The Financial Conduct Authority (FCA) is scheduled to launch on-site artificial intelligence (AI) testing services in September 2025.
The FCA is seeking opinions on how its on-site AI testing services can help them deploy security and AI companies.
The real-time testing service will be the latest component of the FCA AI Labs, which will allow companies to work with regulators when checking whether new AI tools can be used.
Additionally, the FCA said it will provide them with intelligence to better understand how AI affects UK financial markets.
The proposed real-time testing service will run for 12 to 18 months and will provide regulatory support for companies ready to deploy consumer or market-oriented models.
The proposal is based on FCA’s new five-year strategy.
“Under our new strategy, we are committed to increasing technology to support growth,” said Jessica Rusu, chief data, intelligence and information officer at FCA.
“We want financial companies and their customers to benefit from AI, so we provide a safe space to test how they plan to use it.”
Feedback from the service will end on June 10.
