Minister Emphasises the Importance of Regulations in Addressing AI Risks at Forum on AI and Blockchain

During a two-day forum on AI and blockchain, Minister of Financial Services Mahen Seeruttun emphasised the importance of implementing appropriate regulations in response to the risks associated with AI.

The AI market is projected to reach $980.7 million by 2030, with an annual growth rate of over 24% between 2021 and 2030.

Seeruttun highlighted the need to be aware of the risks involved in adopting new technologies and to establish well-regulated frameworks.

The forum, organized by the RCE of the FSC and the OECD, aimed to explain the roles of AI and blockchain.

Dhanesswurnath Thakoor, Chief Executive of the FSC, stressed the need for control and consumer protection in the sector, with laws introduced for cryptocurrency activities and licenses granted.

The Bank of Mauritius representative called for collaboration among stakeholders to support the training of finance professionals and officials.

Source: Defi Media