Eight firms including UBS and Lloyds Banking Group (Scottish Widows) have been added to the Financial Conduct Authority's live test of artificial intelligence (AI) applications.
Barclays, Aereve, Coadjute, Experian, Go-Cardless and Palindrome are the other six companies. The aim of the project is to confirm AI applications can be introduced by firms with "safe and responsible deployment". Working with its technical partner Advai, a London-based specialist in automated AI assurance, the FCA is looking to provide testing designed to support the responsible deployment of AI and explore key questions around risk management and live monitoring. Both customer-facing and business‑to‑business use cases are being tested, including AI-enabled targeted support for in...
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