UK exposed to ‘serious harm’ by failure to tackle AI risks, MPs warn

Government, Bank of England and FCA criticised for taking ‘wait-and-see’ approach to AI use in financial sectorConsumers and the UK financial system are being exposed to “serious harm” by the failure of government and the Bank of England to get a grip on the risks posed by artificial intelligence, an influential parliamentary committee has warned.In a new report, MPs on the Treasury committee criticise ministers and City regulators, including the Financial Conduct Authority (FCA), for taking a “wait-and-see” approach to AI use across the financial sector. Continue reading...