In 2024, ASIC reviewed 624 AI use cases across 23 financial institutions and found alarming gaps in governance, fairness, and oversight. As AI becomes integral to business, the need for robust governance frameworks is clear. This blog, in collaboration with Zertia, explores how to operationalise AI governance—covering policy, roles, model inventory, risk management, and third-party oversight for responsible AI in 2025.

Regulators increasingly view customer vulnerability as a firm-wide responsibility, not just a frontline issue. That means systems, controls, and oversight must be designed to anticipate and mitigate harm before it occurs.