“We see that recent developments require a swift response to adjust and refine the existing guidelines,” OJK official, Hasan Fawzi, said during the Organization for Economic Cooperation and Development (OECD) Asia forum on Digital Finance 2025 in Denpasar, Bali, on Monday.
He explained that the new guidelines cover several aspects, including the adoption and anticipation of the latest AI technology developments, particularly generative AI, which require adjustments.
Furthermore, they strengthen the basic principles of the AI code of ethics, particularly in terms of consumer protection, model and data reliability, financial inclusion, data protection, and cyber resilience.
The new guidelines were launched on the sidelines of a joint OECD forum in Bali, updating the previous guidelines issued in late 2023.
"The OECD fully supported the changes (to the guidelines) through a review and input process," he said.
In the latest guidelines, the OJK added a basic principle that financial technology companies must adhere to: fairness.
He said the new guidelines complement the six basic principles: based on Pancasila, beneficial, fair and just, accountable, transparent and explainable, and resilience and security.
The use of AI in the financial sector increases the efficiency of business processes and the speed of transactions.
Generative AI, for example, not only provides increased efficiency but can also detect fraud more quickly, improve the quality of customer service, and personalize products.
However, the use of AI also poses new risks, including risks from generative AI that need to be mitigated, such as hallucinations, leaks of personal data or sensitive information, and algorithmic bias that can worsen underwriting assessments.
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Translator: Dewa Ketut Sudiarta Wiguna, Cindy Frishanti Octavi
Editor: Arie Novarina
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