Financial Conduct Authority Responds to AI and Big Tech Challenges Raised by Industry Panels

The Financial Conduct Authority responds to industry panel concerns on AI regulation and Big Tech’s role in financial services, addressing risks like bias, competition, and data privacy while exploring opportunities through initiatives like the Digital Sandbox.

Financial Conduct Authority Responds to AI and Big Tech Challenges Raised by Industry Panels

Regulatory updates tackle AI risks and Big Tech data in financial markets

The Financial Conduct Authority (FCA) has responded to feedback from its six independent statutory panels regarding its approach to regulating artificial intelligence (AI) and Big Tech.

The concerns come amid the rapid development of generative AI and the growing influence of technology giants in financial markets.

These insights, part of the FCA’s annual report exchange with the panels, highlight pressing issues and propose measures to address risks while capitalising on opportunities.

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