20 TCS AI for Business Study – Banking, Financial Services & Insurance Report Navigating ethical, security and privacy dimensions The debut of sophisticated AI applications has intensified the focus on security and privacy concerns, and the ethical dimensions of AI use have also garnered significant attention. Most senior BFSI executives prefer global standards, debating whether specific use cases are better covered at this scale or more locally. Q. Which regulatory landscape is most appropriate for your business's use of AI? 13% think it's too early or unnecessary to regulate Al 12% prefer a heterogenous environment of local regulations 36% prefer global Al standards, plus specific regional controls 40% prefer global Al standards regulating specific use cases and outcomes