Treasury and Artificial Intelligence

With the increasing prevalence and use of AI throughout the financial sector, Treasury is committed to provide information to the public not just on AI security and best practices in the financial sector, but also related to Treasury’s own use of AI. This site serves as a repository of that information. 

Below you will find information on Treasury-developed and supported reports, AI use cases within Treasury, and press releases and news items related to Treasury’s use of and views on AI in the financial services sector.

REPORTS AND PUBLICATIONS

Treasury understands the need to provide information to the financial services sector on the opportunities and challenges that may arise from AI use. The documents below provide an overview of some of the work Treasury is doing to address AI use, to include Treasury’s report on Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector, as well as Treasury’s Plan for Consistency with M-24-10.

Department of the Treasury’s Compliance Plan for OMB Memoranda M-24-10

Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector

Artificial Intelligence in Financial Services

AI USE CASE INVENTORY

Treasury 2024 AI Use Case Inventory

Treasury 2023 AI Use Case Inventory

Treasury 2022 AI Use Case Inventory

PRESS RELEASES AND NEWS

Treasury Releases Report on the Uses, Opportunities, and Risks of Artificial Intelligence in Financial Services (December 19, 2024)

FinCEN Issues Alert on Fraud Schemes Involving Deepfake Media Targeting Financial Institutions | FinCEN.gov (November 13, 2024)

Remarks by Acting Assistant Secretary of Financial Institutions Laurie Schaffer at the Electronic Transaction Association’s Annual Fintech Policy Forum (September 26, 2024)

FSOC and the Brookings Institution Host a Conference on Artificial Intelligence and Financial Stability (June 6, 2024)

Remarks by Deputy Assistant Secretary for the Financial Stability Oversight Council Sandra Lee at the Conference on Artificial Intelligence and Financial Stability (June 6, 2024)

Remarks by Secretary of the Treasury Janet L. Yellen at the Financial Stability Oversight Council Conference on Artificial Intelligence and Financial Stability (June 6, 2024)

U.S. Department of Treasury Releases Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector (June 6, 2024)

Remarks by Under Secretary for Domestic Finance Nellie Liang on Artificial Intelligence in Finance (May 22, 2024)

U.S. Department of the Treasury Releases Report on Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Sector (March 27, 2024)

Remarks by Assistant Secretary for Financial Institutions Graham Steele at the Amazon Web Services (AWS) Gov2Gov Summit on Responsible Artificial Intelligence Innovation for the Public Sector (October 24, 2023)

Resources

Framework to Advance AI Governance and Risk Management in National Security

FACT SHEET: Biden-Harris Administration Outlines Coordinated Approach to Harness Power of AI for U.S. National Security

Memorandum on Advancing the United States' Leadership in Artificial Intelligence; Harnessing Artificial Intelligence to Fufill National Security Objectives; and Fostering the Safety, Security, and Trustworthiness of AI

OMB M-24-18 Advancing the Responsible Acquisition of Artificial Intelligence in Government

OMB M-24-10 Advancing Governance, Innovation, and Risk Management for Agency Use of Artificial Intelligence

EO 14110 Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence

EO 13960 Promoting the Use of Trustworthy Artificial Intelligence in the Federal Government