A UK parliamentary committee has identified potential risks to the financial system due to inadequate oversight of Artificial Intelligence (AI). According to reports, regulators are struggling to keep up with the rapid integration of AI across banks and insurers. The committee is advocating for clearer guidance to address these emerging challenges. The development highlights the growing need for regulatory frameworks to adapt to technological advancements in the financial sector.

A UK parliamentary committee has identified potential risks to the financial system due to inadequate oversight of Artificial Intelligence (AI). According to reports, regulators are struggling to keep up with the rapid integration of AI across banks and insurers. The committee is advocating for clearer guidance to address these emerging challenges. The development highlights the growing need for regulatory frameworks to adapt to technological advancements in the financial sector.