Jessica Rusu spoke at #Money2020, outlining how the FCA will adapt to the speed, scale and complexity of AI, while promoting its safe and responsible use in financial markets. #AI #fintech #innovation #FinancialServices #FinancialMarkets #FinancialRegulation
Financial Conduct Authority’s Post
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Yeah... color me skeptical on this. The FCA are no friends of innovation and the wading in on AI is expected but it gives you that feeling in the pit of your stomach that this won't end well. AI is not like Blockchain, or similar. What I mean is that it is something that will be so legion within all our businesses that regulating AT ALL is going to be difficult. Now ask the FCA to get involved with creating rules around the use of AI and I guarantee it won't be pretty. This is the likelihood in the UK; AI advice.. there is too much scope for advisors to blame AI if it goes wrong. It is likely to be banned. AI trading.. already goes on, but when it is available to retail at scale, probably banned. AI regulatory reporting... You will only be able to use an FCA approved (probably Salesforce) AI system. Reg Data is ancient, virtually unworkable and, in my opinion, pointless. As will be its AI replacement. I am aware I am a Debbie Downer on the FCA but it's just the way it is. AI could make regulations so much easier to deal with, make interactions with the FCA less tortuous and propel the UK back to a financial services powerhouse. Unfortunately there will be a year of consultation documents where industry will be ignored and some Draconian rule created that will force financial services into other jurisdictions that have embraced AI Don't hate the player, hate the game.
Jessica Rusu spoke at #Money2020, outlining how the FCA will adapt to the speed, scale and complexity of AI, while promoting its safe and responsible use in financial markets. #AI #fintech #innovation #FinancialServices #FinancialMarkets #FinancialRegulation
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Where do you stand on #GenerativeAI as it pertains to the financial services industry? I read a very interesting article (linked below) that shed some light on the benefits of using Generative AI...and the consequences to firms if they don’t adopt this technology soon. Leave me a comment below with your thoughts on the subject. https://hubs.li/Q02vzVxf0 #FinTech #WealthManagement #Technology
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Listen to the Money Pot podcasters tackle the challenges of making your firm #AI ready. They talk about unlocking the potential of AI in #fintech and how to stay compliant while using it. https://hubs.la/Q02vSksJ0
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Check out this article published by Tech Bullion titled ‘AI forces how we define the lifespan of technology’ http://mvnt.us/m1811107 #AI #FinTech #TechNews
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Great contribution by Brian McElligott of MHC on the AI discussion panel at the Irish Times Innovation Awards today. At MHC we are committed to the evolving area of AI and advising our clients in safe and appropriate usage. This is an area that increasingly is being focused on by financial regulatory authorities globally and our multitalented team at MHC has unrivaled capabilities in this area. #fintech #fintechinnovation #ai #itinnovation
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"AI is transforming the financial industry at an unprecedented pace. How do you see AI impacting your financial life in the next 5 years? #fintech #AI #artificialintelligence #futureoffinance"
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Senior Compliance Leader | Qualified Solicitor | Driving Regulatory Compliance, Financial Crime Prevention and Global Privacy at a Leading Fintech
Dive into this insightful Forbes article discussing the importance of fintech looking beyond AI for future innovation. #Fintech #Innovation #AI
Council Post: Why Fintech Needs To Think Beyond AI
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Unlock the Potential of Quantitative Trading with AI! 🚀 Explore the 5 benefits of AI for quants in our captivating reel. From enhanced efficiency to data-driven insights, discover how EPAT empowers you to thrive in the world of algo trading. Enroll now: https://bit.ly/48wgarm #QuantitativeTrading #AI #EPAT #AlgoTrading #quanttrading #quants #MLfortrading #fintech
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At Money20/20 we sat down with Maysara Hammouda, CEO of Scottish #fintech Predictiva. We spoke about the use of #AI in trading, his views on the future of AI and the future of trading and the real benefits and challenges poised by the development of AI. https://lnkd.in/d-KAMEZe
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AI-Powered Credit Solutions: Shaping Tomorrow's Finance Today! 🚀 Excited to unveil our latest innovation - a cutting-edge credit solution driven by the unmatched power of AI. Seamlessly integrating speed, accuracy, and accessibility, we're rewriting the rules of lending. Join us on this journey to redefine financial empowerment! #lpu #lpucareerplanning #LpuCareerPlanning #AI #CreditInnovation #FintechRevolution
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Risk & Governance Consultant, Financial Services
3moThomas Castel