Published by: Financial Conduct Authority
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Key Take Aways
The FCA aims to become a smarter regulator by leveraging technology and fostering responsible AI adoption in UK financial services.
Introduction of AI Live Testing within the FCA’s existing AI Lab to support safe, responsible deployment of AI models in live markets.
The regulatory approach is principles-based and outcomes-focused, relying on existing frameworks to support innovation without additional regulation.
The initiative seeks to build confidence in AI model performance, enabling firms to test AI strategies and achieve positive outcomes for consumers and markets.
Collaboration with industry is a core element, focusing on evidence-gathering to address critical questions around model robustness, bias, explainability, and consumer impact.
Eligibility for AI Live Testing is open to firms with demonstrable effective pre-deployment testing, a clear roadmap for deployment, and plans for post-deploy...
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