FCA Launches 'Safe Space' for AI as City Firms Rush to Deploy New Tech

FCA begins live AI testing with major UK banks

The UK’s FCA has launched live testing of artificial intelligence across financial services, signalling a significant move toward supervised innovation in retail banking. Major firms including NatWest, Santander and Monzo are among the first participants in the regulator’s AI Live Testing initiative, reflecting its growing role in shaping responsible technology deployment in finance, claims Finextra. First proposed in April, the initiative is de…

UK Regulator FCA Launches Supervised AI Trials for Banks

The Financial Conduct Authority launched a new initiative on Wednesday (Dec. 3) to give U.K. financial firms a “safe space” to test artificial-intelligence systems in live markets under regulatory supervision. The program, called AI Live Testing, pairs participating firms with the FCA and its technical partner Advai to deploy AI tools in real-world conditions while monitoring performance, risks and consumer impact. From Sandbox to Live…

FCA launches 'safe space' for AI as City firms rush to deploy new tech

The City’s top regulator has opened the doors to its first-ever ‘AI live testing‘ scheme, giving major financial firms a controlled environment to trial AI without fear of tripping regulatory wires. NatWest, Monzo, Santander, Scottish Widows, Gain Credit, Homeprotect and fintech Snorkl are among those in the inaugural cohort. The FCA says the scheme is designed for firms already positioned to put AI into live markets, offering tailored oversight…

FCA to work with major firms on AI safety

The UK finance watchdog will work with major firms to test AI tools safely to better understand the potential risks and benefits.

FCA works with major firms to test AI safely

The UK Financial Conduct Authority (FCA) is working with major firms to test AI in a safe place to better understand the potential benefits and risks.

FCA Helps Firms to Test AI Safely

The Financial Conduct Authority (FCA) is working with major firms to test Artificial Intelligence (AI) in a safe place to better understand the potential benefits and risks. The AI Live Testing initiative is the first of its kind in the financial sector to help firms who are ready to use AI in UK financial markets. Participating firms receive tailored support from the FCA’s regulatory team and its technical partner Advai to develop, assess and …