A Review of the legal framework in Morocco as a hindrance to artificial intelligence adoption in the financial services industry
DOI:
https://doi.org/10.7190/fintaf.v2i1.413Abstract
Artificial intelligence (AI) is the revelation of a new era dominated by data, precision, and gains in terms of time, effectiveness, and relevance. These elements are the best precursors of a revolutionary evolution in all fields. The financial sector, the lifeblood of any society, is the first to be impacted by this disruptive revolution. To ensure a balance between technological development and the protection of fundamental rights and against the bias of technological disruption, international organizations are intervening to issue recommendations and legal guidelines that provide a basis of inspiration for countries around the world.
The evolution of the Moroccan financial system through AI, although timid, is beginning to gain momentum meanly because the opportunities it presents. The aim of this article is to propose an appropriate legal framework for AI for the Moroccan financial sector, based on the various guidelines and legal frameworks approved by international organizations. The results show that, although an initial legal framework already exists in Morocco, it remains insufficient in the face of the challenges posed by the use of AI in the financial sector. This framework can be supplemented by adjustments to hard and soft law
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