Bank of England published discussion paper on artificial intelligence and machine learning
  • Thursday, 1 December 2022

Bank of England published discussion paper on artificial intelligence and machine learning

Artificial intelligence (AI) and machine learning (ML) are rapidly developing technologies that have the potential to transform financial services. These technologies may bring important benefits to consumers, financial services firms, financial markets, and the wider economy. AI, however, can pose novel challenges as well as create new regulatory risks, or amplify existing ones. The Bank of England (BoE), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) published a discussion paper to deepen their knowledge and to better understand the potential challenges with the new technologies.