Bank of England and FCA to give evidence on AI in financial services
Senior officials from the Bank of England and Financial Conduct Authority (FCA) will give evidence to the Treasury Committee in the latest session of its inquiry into the use of artificial intelligence in the financial services industry.
Meeting details
MPs will gather the views of those charged with regulating and protecting the UK financial system as they assess the impact of the rising use of AI. This will inform the Committee’s inquiry on the subject as it nears its conclusion.
A member of the Bank of England’s Financial Policy Committee, which is tasked with maintaining the UK’s financial stability, will appear, as well as the Director leading the Bank’s work on the potential introduction of a Central Bank Digital Currency, and whose portfolio includes FinTech.
The FCA will be represented by the head of the Payments and Digital Finance team and the organisation’s Chief Data, Information and Intelligence Officer.
Members are likely to probe witnesses for their views on regulation, transparency and how widespread use could affect markets in both the short and long term.