FCA backs AI with live testing service

Wants AI to keep the UK competitive

Patrick Brusnahan
clock • 1 min read

The Financial Conduct Authority is asking firms how its live AI testing service can help them to utilise safe and responsible AI, as well as how it can aid UK consumers and markets.

A new component of the FCA's AI Lab, which has previously supported firms with their AI development, is aiming to help bridge a testing gap which has delayed firms' adoption of AI, according to the watchdog. FCA to replace portfolio letters with market reports in simplification push Furthermore, the live testing service would support firms when collaborating with the FCA while their AI tools are checked. This, in turn, provides the FCA with intelligence to improve its understanding of AI and its impact on UK financial markets. Jessica Rusu, the FCA's chief data, intelligence a...

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