FCA sees interest in AI but sounds note of caution to firms

The regulator says it is ‘ready to embrace artificial intelligence’

Sahar Nazir
clock • 1 min read

The advice industry is embracing artificial intelligence (AI) though there are risks firms need to remain aware of, the Financial Conduct Authority (FCA) says.

Speaking yesterday (8 February) at The Lang Cat's Regenerate 2024 conference, head of consumer investments policy and market analysis Kate Blatchford-Hick said the regulator itself is also "ready to embrace AI". This comes after FCA chief operating officer Emily Shepperd said the watchdog is looking at how AI and machine learning could help it improve its processes when speaking at the Culture and Conduct Forum in November 2023. Shepperd said at the time that the FCA was actively seeking out opportunities from new technology. Blatchford-Hick said the FCA does not regulate technolog...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Premier Miton confirms MPS launch timeline

Premier Miton confirms MPS launch timeline

Group also reported AUM up 8% since opening position

Jen Frost
clock 15 July 2024 • 2 min read
Advisers urged to keep client communications simple and intuitive

Advisers urged to keep client communications simple and intuitive

‘This becomes more important over time as their life changes’

Isabel Baxter
clock 15 July 2024 • 1 min read
Advisers who look to psychographic traits can go the 'extra mile'

Advisers who look to psychographic traits can go the 'extra mile'

‘Growing advice firms are considering client behaviours and values’

Isabel Baxter
clock 12 July 2024 • 1 min read