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The Bank of England and the UK Financial Conduct Authority have published findings from their third survey on the use of artificial intelligence (AI) and machine learning in UK financial services. This survey highlights the growing relevance and adoption of AI and fintech, emphasizing the need for regulators to stay updated with technological advancements. Concurrently, leaders of the House Financial Services Committee (HFSC) are advocating for a federal study to analyze the impact of AI on the financial services sector. This initiative aims to ensure that emerging technologies are utilized responsibly and effectively, potentially reshaping the industry’s future.
As the private sector leads the way in innovation, #AI and #fintech are growing in relevance and adoption and regulators must stay up to date. It's equally important that regulators utilize new technology to improve the efficiency and efficacy of their supervision. https://t.co/sXxqBxQUwW
Regulators Publish Third UK Financial Services Artificial Intelligence Survey https://t.co/I2fImR5vU8
HFSC leaders are advocating for a federal study on the impact of AI in financial services. Explore how this initiative could reshape the industry and what it means for the future of finance. Read more about it here: https://t.co/fyyDGzhwvx