Artificial Intelligence & Financial Services - The Developing Landscape in the UK & EU

Introduction

Artificial Intelligence is an increasingly important technology for financial services.

Whilst the technology can bring a range of benefits to firms, consumers, and the wider financial system, at the same time, the speed, scale, and complexity of AI systems can amplify existing risks and pose new challenges.

Financial services firms in the UK and EU need to be aware of the developing regulatory frameworks for the use of AI and the supervisory authorities’ expectations regarding their governance and risk mitigation procedures.

In the UK, regulators’ policy efforts have centred on interpreting how the existing regulatory framework relates to AI whereas in contrast, the European Commission has published comprehensive proposals for an ‘AI Act’ which would regulate the development, deployment, and use of AI systems across the EU.

This new virtual classroom seminar will explore and unpack these key developments, highlighting the key takeaways for financial services firms and their advisers.

What You Will Learn

This live and interactive course will cover the following:

• How do we define AI?
• Key associated concepts
• Emerging use cases, benefits and risks
• Emerging regulations
• EU:
• EU AI Act
• EU Cyber Resilience Act
• AI Liability Directive
• EBA Recommendations for use of ML in IRB Models
• UK:
• UK Government AI White Paper
• AI Public-Private Forum
• Joint Bank of England/PRA/FCA Discussion Paper and Feedback Statement
• Interaction with General Data Protection Regulation (GDPR)
• International developments: G7 Code of Conduct

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.