On 23 November 2023, UK Finance published a report on the impact of artificial intelligence (AI) in financial services, including opportunities, risks and policy considerations.
The report examines the state of play of AI in the financial sector – where it is being deployed, where it shows promise for the future and how to make the most of the opportunities on offer.
The report also looks at AI risks and mitigations. Furthermore, it examines the policy landscape, including the state of regulation and options for resolving key policy questions that will need to be answered in order to ensure a regulatory approach that mitigates risks effectively, while enabling responsible innovation.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
