UK Financial Conduct Authority Seeks Views on Use of AI in UK Financial Services

The Financial Conduct Authority has launched a questionnaire on the current and future uses of AI in U.K. financial services and the financial services regulatory framework. The initiative is part of the FCA's AI Input Zone, which will help shape its future regulatory approach. Views are sought on: (i) what AI use cases firms are considering and what barriers are preventing any current or future adoption; (ii) whether current regulation is sufficient to support firms in embracing the benefits of AI in a safe and responsible way; and (iii) whether there are any specific changes to the regulatory regime or additional guidance that would be useful. The deadline for responses is January 31, 2025.

The FCA has also opened applications for the first AI Sprint, which will be taking place in January 2025.

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