As AI rapidly reshapes the financial sector, the question is no longer whether regulators should respond, but whether they can keep pace. In this episode of The Monocle Banking Podcast, Michael Avery is joined by Fundi Tshazibana, deputy governor of the South African Reserve Bank and CEO of the Prudential Authority, for a timely conversation examining how the industry is navigating the accelerating rise of generative AI.
The discussion explores the growing complexity AI introduces to financial supervision, the risks posed by increasingly powerful frontier models, and the vulnerabilities they could expose across banking systems and critical infrastructure. It also offers a clear look at how South Africa is approaching oversight, innovation and risk in an AI-driven future.