Ally Financial outlines risks and talent needs for adopting AI including generative AI models and AI agents.
“AI technologies are developing rapidly, and industry practices and regulatory expectations are still emerging. Our future competitiveness could depend in part on our ability to identify where AI can create value, prudently adopt and integrate AI-enabled tools and processes, and maintain appropriate governance, risk management, and controls over such technologies and the data we input into them. If we fail to keep pace with advances in AI, we may be slower or less effective than peers in realizing its benefits. Even where we determine AI adoption is appropriate, we may be unable to recruit or develop the necessary talent or successfully integrate AI into existing systems. Overly cautious adoption, or delays in deploying AI while peers advance, could result in missed opportunities, lower productivity, or loss of market share. The deployment and use of AI within our businesses and operations may present new or increased legal, regulatory, reputational, operational and other risks that further complicate model risk management, data security and privacy protection, data governance and management, and third-party risk management. AI models, including generative AI models and AI agents, may produce output that is incorrect, incomplete, misleading, or biased, or that inadvertently discloses proprietary or confidential information or infringes on the intellectual property of others, any of which could be difficult to detect, and the deployment of these models by us or our third-party ”