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UK regulator warns of "arms race" to keep up with AI use in financial services
FCA official makes case for greater powers for watchdog as millions use technology for personal finance decisions.
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UK Financial Conduct Authority warns of regulatory challenges in AI arms race
FCA CEO Nikhil Rathi warns over 80% of UK financial firms use AI as regulators struggle to keep pace, with implications for crypto and digital asset
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UK Financial Conduct Authority calls for expanded powers to oversee AI risks in financial services
The UK Treasury Select Committee urges FCA to adopt AI-specific stress testing and consumer protections as over 75% of financial firms already deploy AI.
