By 
While Silicon Valley fights against AI regulation, America’s banks are taking a different approach—quietly making the case for AI governance that balances innovation with risk management.
RELATED: The future of AI: Why trust and governance matter
Recently, the American Bankers Association (ABA) submitted a comment letter urging policymakers to craft a pragmatic AI framework—one that avoids the pitfalls of overly rigid European-style regulation but also prevents a patchwork of conflicting state-level AI laws.
Most experts agreed that the future of AI is promising, with expected improvements in industries like healthcare, manufacturing, and customer service.
But they want major concerns such as increased regulation, data privacy issues, and potential job losses to be addressed. AI is projected to significantly impact the global economy through continued exploration and optimization
Kareem Saleh, CEO of FairPlay.ai, has been at the forefront of AI governance in finance, working with major banks and financial institutions to embed transparency and accountability into AI-driven decision-making.
Insight into future of AI
He offers insight on:
- Why banks are pushing for AI regulation while tech companies resist it – Banks understand that AI is already deeply embedded in lending, risk modeling, and fraud detection—and ignoring governance isn’t an option.
- The hidden risks of AI vendors operating outside regulatory oversight – Non-bank AI providers are selling decision-making models to financial institutions, but many operate in a legal gray area with little transparency. Should they be brought under financial supervision.
- How AI can make financial decision-making fairer—or reinforce systemic bias – The ABA is pushing for industry benchmarks and voluntary model validation strategies. Are these enough, or do we need stronger regulatory intervention?
- Why banks—not regulators—may shape AI’s next chapter – The ABA is advocating for flexibility, clarity, and a focus on real-world outcomes rather than outdated regulatory approaches that fixate on coding minutiae. Will their vision become the standard?
This shift signals that the future of AI regulation might not be dictated by lawmakers or tech CEOs—but by financial institutions that understand both innovation and accountability. Kareem offers insight on what’s coming next in AI governance and what this means for financial services.
