Context
This is a speech by Jessica Rusu, FCA Chief Data, Information and Intelligence Officer, at the City and Financial Global summit on the topic of regulation and risk management of Artificial Intelligence in financial services.
Key points to note
- AI needs governance to move from fear to trust but many of the rules in financial services are already in place.
- Agency must not be attributed to AI systems as this risks removing accountability away from firms.
- Safe and responsible AI adoption must be underpinned by high-quality data.
Next actions
None – for information and awareness.