Under the PRA's SS1/23, a UK bank must evidence five things for every model, including AI: a risk-tiered model inventory, board-level governance, documented development and use, independent validation with challenge, and mitigants for models that are not fully validated.Originally published at https://mickai.co.uk/articles/pra-model-risk-and-ai-what-uk-banks-must-evidence-under-ss1-23. Mickai is a Sovereign Intelligence Operating System; the Open Audit Record signs every artificial intelligence action before it executes, post-quantum and offline-verifiable. 104 filed UK patent applications, Mickai LTD (Companies House 17166618).
Micky Irons (Sat,) studied this question.