The UK Financial Conduct Authority (FCA) is introducing a live testing service as part of its AI Lab to assist firms in developing and deploying AI, addressing a testing gap that hinders AI adoption. This service will enable firms to collaborate with the FCA to ensure their AI tools are ready for use, while also providing the FCA with insights into the potential impacts of AI on UK financial markets. The initiative aims to offer regulatory support for firms ready to implement consumer or market-facing AI models and is set to run for 12 to 18 months, with a planned launch in September 2025.
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