European Commission opens consultation on AI in finance

As AI use in financial services increases, regulators must balance innovation with risk

face of data

The European Commission (EC) opened a consultation on the use of artificial intelligence (AI) in financial services on June 18.

Responses will inform the commission about the “concrete application and impact of AI in financial services”, it said.

The move comes after the European Parliament and European Council passed the AI Act. Expected to enter into force in July, the act will regulate the development and use of AI in the European Union (EU). The EU calls it “the world’s first comprehensive AI

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.