The FCA's live testing programme is less about whether AI works - it clearly does - and more about whether it can be made to work within the UK's regulatory model, writes Alison Gay
The Financial Conduct Authority has now announced its second cohort of firms for its artificial intelligence live testing programme. The candidates for this second batch are a mix of newer names (such as Aereve in the compliance space and Coadjute in the property market), big data experts (such as Experian) and very old established names (Scottish Widows and Barclays). What they all have in common is that they want to test their AI use cases in a controlled environment with the regulator's blessing. The FCA is working within five key government principles for the regulation of AI...
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