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The Financial Conduct Authority (FCA) has launched a review examining how artificial intelligence (AI) is likely to reshape retail financial services over the long term.
Led by the regulator’s Executive Director Sheldon Mills, it will be known as the Mills Review, the work will explore how AI could impact markets, firms, consumers and financial regulators, while considering how innovation can be supported within a safe and effective regulatory environment.
The FCA is seeking views from industry stakeholders to help inform its understanding of how AI technologies may change business models, decision-making, consumer outcomes and regulatory oversight across retail financial services.
The FCA has opened a short, four-week call for input, closing on Tuesday 24 February.
BVRLA will not be submitting a response to this review. However, the association would like to flag the opportunity to members who may wish to engage directly.
Email responses to: [email protected]
If you do choose to respond, the BVRLA would welcome sight of your submission. Share a copy with [email protected] or [email protected] for awareness.
Review into the long-term impact of AI on retail financial services (The Mills Review) | FCA.
