Boost City regulator’s powers to help protect UK consumers from AI, says watchdog
by Kalyeena Makortoff Banking correspondent from World news | The Guardian on (#76SN0)
FCA's review into how tech will reshape financial services warns about amplified risks of cyber-crime and fraud
Ministers have been urged to toughen the City regulator's powers to protect consumers against the potential risks of AI, according to a landmark review.
The Financial Conduct Authority's (FCA) Mills review, which looked at how AI will reshape financial services from 2030 onward, found that companies are already starting to shift from human-led activities towards AI-enabled services for everyday consumers.
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