The executive president of the Public Corporation for the Supervision and Insurance of Cooperatives of Puerto Rico (Cossec), Mabel Jiménez Miranda, warned that the adoption of artificial intelligence (AI) in cooperatives must be carried out under strict human supervision, adequate institutional controls and responsible risk management.
However, at the moment, the regulator is not aware of irregularities nor has it received reports related to the use of artificial intelligence in the cooperatives under his supervision, Cossec told El Nuevo Día.
Jiménez Miranda insisted that the implementation of AI must be carried out under clear standards of security, institutional supervision and regulatory compliance.
At the same time, he recognized that the new technology serves to support operational processes, credit analysis and risk detection in financial institutions.
“The artificial intelligence can optimize processes and strengthen the capacity of institutions to manage risks. However, its use must be accompanied by human supervision, institutional transparency and compliance with regulatory standards that protect the information and interests of partners,” he said.
The expressions were given during the Ethics Symposium organized by the Puerto Rico Multiple Insurance Cooperativein which Jiménez Miranda offered the workshop, titled “Ethical Standards in Artificial Intelligence and their Application in Cooperatives.”
The executive president clarified that the message arises as a preventive strategy to ensure that, if advanced technological tools are adopted, it is done under clear standards of security, risk management and protection of partners’ information.
The official indicated that the use of AI must be aligned with the provisions of Regulation 9741 on information systems and technology, which establishes requirements related to information security, technological risk management, supplier supervision and incident notification.
He also pointed out that Puerto Rico’s cooperative system, which serves more than one million members, must continue to integrate technological innovation with adequate institutional controls and responsible risk management.
“Technology can automate processes, but the institutional responsibility to protect the partner’s trust remains human,” Jiménez Miranda stressed.