Ottawa, ON — The Digital Governance Standards Institute (DGSI) is pleased to announce the reaffirmation of DGSI/WA 126, Baseline Requirements for Vendors Offering AI/ML Lifecycle Solutions to Financial Institutions, following the completion of its periodic maintenance review.
The maintenance process included stakeholder review and feedback on the continued relevance, clarity, and applicability of the Workshop Agreement in light of evolving artificial intelligence and machine learning (AI/ML) practices, regulatory developments, and operational considerations within the financial sector.
Following consideration of comments and feedback received during the maintenance period, DGSI has determined that the Workshop Agreement continues to reflect current industry needs and practices and will therefore be reaffirmed without revision.
DGSI/WA 126 establishes baseline requirements intended to support financial institutions and third-party AI/ML vendors in managing risks throughout the AI/ML lifecycle, including governance, data management, cybersecurity, monitoring, transparency, and regulatory compliance considerations.
DGSI thanks all stakeholders, experts, and organizations who participated in the maintenance review process and contributed feedback to support the continued relevance of this Workshop Agreement. The next review period for this standard will take place in 3 years.
DGSI/WA 126 remains available via DGSI/WA 126
About the Digital Governance Standards Institute (DGSI)
The Digital Governance Standards Institute develops digital technology governance standards fit for global use. The Institute works with experts, as well as national and global partners and the public to develop national standards that reduce risk to Canadians and Canadian organizations adopting and using innovative digital technologies in today’s digital economy. The Institute is an independent division of the Digital Governance Council. To learn more about the organization and its initiatives, visit www.dgc-cgn.org or contact info@dgc-cgn.org.