Yesterday, the UK Financial Conduct Authority (FCA) published an AI Update, setting out its approach to AI and stating that it has no plans to roll out additional AI regulation. Instead, it will "rely on existing frameworks, which mitigate many of the risks associated with AI”.
In a previous AI Update, the FCA reiterated what it described as its dedication to support the UK’s financial markets' safe and responsible AI adoption. The regulator supports that firms should be able to trial, develop and test AI to realise the potential it offers for innovating and advancing in the interests of consumers and markets, while continuing to focus on the effective management of risks.
The FCA’s stance emphasises two key points:
As part of its commitment, the FCA collaborates with the international community and other regulatory bodies to share insights and learn how AI is being applied. It also co-shares the "AI Consortium" with the Bank of England and actively contributes to related research initiatives.
Staying in pace with AI and innovation is challenging. Maintaining this approach suggests the UK regulator’s intention to create a secure environment for innovation to flourish responsibly.
At Axyon AI, we are committed to fostering a safer digital environment by promoting transparency - one of our core values - and championing the responsible use of AI technologies.
Founded in 2016, Axyon AI is an Italian fintech company committed to revolutionising the investment management industry through the power of advanced Predictive AI. Our mission is to empower investors with scalable research-led AI technologies that deliver timely signals and predictive insights.
We believe that AI's true power lies in seamless collaboration between technology and human expertise. Choosing the right AI partner is essential to unlocking its full potential.
If you’re looking to explore how AI can be integrated into your investment processes - whether for asset managers, hedge funds, or investment firms -contact our team.