Bank of England sets up consortium to discuss use of AI in UK financial services

Platform for public-private engagement

Valeria Martinez
clock • 1 min read

The Bank of England is set to establish a public-private consortium to discuss the use of artificial intelligence in UK financial services.

Chaired by the Bank's deputy governor for financial stability Sarah Breeden, the consortium's aim will be to identify how AI is or could be used in the sector, as well as discuss the potential benefits and the risks arising from the technology.  The consortium, which will be composed of 30 members, will also look to gather views from stakeholders to inform the Bank's approach to addressing any identified risks and challenges, and in promoting the safe adoption of AI. BlackRock and Microsoft partner for launch of $30bn AI infrastructure fund The BoE has placed a call for interest fo...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Technology

Datasite's Merlin Piscitelli: AI investments have been made and now we are waiting for the pay off

Datasite's Merlin Piscitelli: AI investments have been made and now we are waiting for the pay off

Scale of AI investment is 'staggering'

Merlin Piscitelli
clock 03 October 2024 • 4 min read
Bank of England sets up consortium to discuss use of AI in UK financial services

Bank of England sets up consortium to discuss use of AI in UK financial services

Platform for public-private engagement

Valeria Martinez
clock 25 September 2024 • 1 min read
FundCalibre Elite Radar: IFSL Marlborough Global Innovation fund

FundCalibre Elite Radar: IFSL Marlborough Global Innovation fund

Giving investors 'exposure to progress'

Juliet Schooling Latter
clock 23 August 2024 • 5 min read
Trustpilot