This week the FCA issued a brief update on AI regulations and its approach.
It does not plan to bring on any extra regulations and will rely on existing frameworks. thus focusing on the best way to support UK growth and competitiveness.
AI and the FCA Approach
AI Update (PDF)
Briefly, the FCA will support firms to experiment, develop, and test AI in a way that:
- Drives innovation
- Benefits consumers and markets, while balancing the risks
- Supports growth and competitiveness of UK financial services
#ai #innovationcommunity
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Todor Kostov
Director
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