About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Briefs

UK Governments Releases AI Rulebook

Subscribe to our newsletter

The UK government has released an AI rulebook with a view to protecting data and promoting responsible use of the technology. Proposals in the rulebook look to future regulation of AI and take a less centralised approach than the EU. AI is defined as ‘machines which learn from data how to perform tasks normally performed by humans. For example, AI helps identify patterns in financial transactions that could indicate fraud.’

The proposals are part of the Data Protection and Digital Information Bill that has been introduced to Parliament. Instead of giving responsibility for AI governance to a central regulatory body – as the EU is doing through its AI Act – the proposals allow different  regulators to take an approach suited to their industry, the aim being to create proportionate and adaptable regulation that allows AI to be rapidly adopted to boost productivity and growth.

Whatever the application, however, regulators must make sure developers and users follow six core principles: ensure AI is used safely; ensure AI is technically secure and functions as designed; make sure AI is appropriately transparent and explainable; consider fairness; identify a legal person to be responsible for AI; and clarify routes to redress or contestability.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Potential and pitfalls of large language models and generative AI apps

Large language models (LLMs) and Generative AI applications are a hot topic in financial services, with vendors offering solutions, financial institutions adopting the technologies, and sceptics questioning their outcomes. That said, they are here to stay, and it may be that early adopters of Generative AI apps could gain not only operational benefits, but also...

BLOG

Toronto-Based TMX Datalinx Opens ESG Data Hub

TMX Datalinx, Toronto-based TMX Group’s information services division, has opened an ESG data hub designed to support global clients’ integrating ESG in investment decision-making processes. As well as providing TMX Datalinx real-time and historical data, the TMX ESG Data Hub provides data from external sources including OWL, a fintech transforming how ESG data is gathered,...

EVENT

Data Management Summit London

Now in its 14th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...