Labor Department releases AI literacy framework

The Labor Department published a framework to guide nationwide artificial intelligence efforts across workforce and education systems.

Scope: The Labor Department said the framework:

• Outlines five foundational content areas and seven delivery principles for AI literacy.

• Is intended to be a resource to guide program design and deployment of AI while allowing for flexibility and adaptation across industries.

Administration Effort: President Donald Trump in December proposed removing state-level AI laws and installing a national standard.

ICBA Advocacy:

• ICBA in September told Congress that while AI has the potential to help community banks meet regulatory burdens and expand access to credit, thoughtful regulation is needed to ensure innovation does not come at the expense of consumer protection or financial stability.

• Prior to President Trump’s release of an AI Action Plan earlier this year, ICBA told the National Science Foundation that AI has the potential to improve efficiency, strengthen risk management, and enhance customer service, but regulatory frameworks must evolve.

Resources for Community Bankers: Recent Independent Banker articles detail ways that community banks can use AI to fight fraud and tips on developing policies on artificial intelligence