BoE survey finds UK financial firms shifting to GenAI
Respondents expect systemic risk to increase as tech becomes more widespread
Financial firms in the UK are increasingly shifting towards using generative artificial intelligence (GenAI), while remaining aware of the increased risks as the technology becomes more widespread, the latest survey from the Bank of England and the Financial Conduct Authority (FCA) has found.
The fourth survey of AI and machine learning in UK financial services, published on October 26, finds that 86% of respondent firms are now using AI, compared with 75% in 2024. There has also been a
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