Product innovation needed to plug 'woeful' AI regulation gap

Mallowstreet chief executive on how tools can fill a gap in the market

Sahar Nazir
clock • 1 min read

The regulation around artificial intelligence (AI) in the UK has been called “woeful” by Mallowstreet chief executive (CEO) Stuart Breyer.

Breyer today (19 June) said both transparency and data ownership for users is "crucial" and stressed that the financial services industry is now on the cusp of a major transformation, thanks to new innovation. "The efficiency of AI will lead to swathes of redundancies in the next five years. The financial services industry is going to change massively because there are going to be so many tools," he said. Mallowstreet's own tool, SOFI, was launched last year and is designed to assist wealth managers and professionals in the financial services industry. Breyer said he hoped the tool...

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