UK Technology Working Group and Investment Association report on Artificial Intelligence's Current and Future Uses in Investment Management

The U.K. Technology Working Group, supported by the Investment Association, published a report on the current and future usage of artificial intelligence in investment management. The U.K. Financial Conduct Authority and HM Treasury are observers on the Group and supportive of the agenda. The report outlines common use cases of AI, examines enablers and barriers for longer-term AI adoption, and makes recommendations for future AI integration in the investment management industry. Key recommendations include:

• establishing regulatory clarity and consistency to enable developers and users of AI to plan and invest with confidence. This would include closer coordination between regulators and the further development of AI standards;
• building a U.K. fintech ecosystem with strong international connections that investment management firms can leverage to gain access to innovative solutions, specialized knowledge, and valuable insights;
• joint public and private sector action on AI-enabled fraud, to combat malicious actors and fight cybercrime and misinformation; and
• managing systemic risk through collective understanding and identifying best practices in risk management. The changing profile of systemic risk in the financial sector should not be a reason to hold back from innovating.

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