Mumbai, Oct. 8 -- Artificial intelligence (AI) is transforming industries with unprecedented speed, but it also poses serious risks if left unchecked, said Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar on Tuesday.

Addressing the Global Fintech Fest (GFF) 2025 in Mumbai, he cautioned that while AI promises extraordinary efficiency, inclusion, and innovation, it must be accompanied by rigorous oversight to safeguard financial stability.

"AI is demonstrating its ability in ways unimaginable a few years back. India, too, has been a notable participant in this journey. But as with all powerful innovations, AI carries a dual narrative of promise and peril," Sankar said, speaking at a session on 'Responsible AI for Finance: Balanci...