The UK government’s approach to promoting AI

Harry Lund, deputy director of AI opportunities at the UK Department for Science, Innovation and Technology, joined OMFIF to discuss the challenges of regulating artificial intelligence in finance and encouraging innovation without compromising security.

Given the breakneck pace of AI development, regulators must keep a close watch on the financial industry to ensure that new technology is implemented transparently and alongside strong security measures. This roundtable explored the role of cybersecurity standards in protecting AI systems and ensuring resilience, the need for transparency in AI usage and the implications of AI regulation for the financial sector.

The UK government sets out their strategy for harnessing AI to help meet its goals for sustained growth. View here, the UK’s AI Opportunities Action Plan and the AI Opportunities Action Plan: government response.