AI in financial services - are you meeting the regulators’ expectations?

The financial services (FS) industry is going through a period of profound change and disruption. Technology is providing the means for firms to reimagine the way in which they operate and interact with their customers, suppliers and employees. One significant area of development is the utilisation of artificial intelligence (AI) and machine learning (ML).

But as with any change, regulatory interest in, and scrutiny of, AI is growing - and firms are facing new and exacerbated risks such as explainability, bias, governance, accountability and data protection across the AI lifecycle. In this report we explore what firms need to do to meet the regulators’ expectations on AI and ML - and why it’s crucial that they do so.

AI regulatory themes

Data protection and security

Accountability

Governance

Bias

Explainability

Contact us

Leigh Bates

UK FS Data Analytics Leader, PwC United Kingdom

Tel: +44 (0)7711 562 381

Conor MacManus

Director, PwC United Kingdom

Tel: +44 (0)7718 979428

Tom Boydell

Manager, PwC United Kingdom

Tel: +44 (0)7483 399332

Leo Donnachie

Senior Associate, PwC United Kingdom

Tel: +44 (0)7483 329595

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