UK Regulators Share AI Regulation Approaches in Finance

On 22 April 2024, the FCA, PRA, and Bank of England unveiled their strategies for regulating AI following the UK government's July 2022 AI Regulation Policy Paper (white paper). Emphasizing "pro-innovation" and "pro-safety" approaches, they aim to keep pace with AI advancements in financial services without immediate strict rules. Expect more updates from UK regulators on AI in the near future. #FCA #bankofengland #ai #regulations