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Osborne Clarke

How AI is Regulated in UK Financial Services

How AI is Regulated in UK Financial Services

The UK financial services regulators have so far taken a technology-neutral approach to the supervision and regulation of artificial intelligence (AI). The boom in generative AI brings opportunities for firms to use the technology in novel ways, creating efficiencies in processes, enhancing market analysis, and interacting with customers. Increased use of AI in the financial services sector also brings significant new risks, including potential harm to consumers, information and cyber security concerns, and a new challenge for individual accountability.

As the deployment of traditional and generative AI in the sector increases, does the existing regulatory framework for UK Financial Conduct Authority (FCA) solo-regulated firms adequately address the risks?

This course explores the evolving landscape of regulatory frameworks in the UK financial services sector in response to the rapid advancement of technology, particularly focusing on the challenges and opportunities presented by the increasing use of artificial intelligence (AI).

By the end of this course, you should be able to:

  1. Understand the current regulatory framework governing the use of artificial intelligence (AI) in the UK financial services sector
  2. Identify the opportunities and challenges associated with the increasing adoption of AI in financial services, including its impact on processes, market analysis, and customer interactions
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