April 15 (Reuters) – The incoming head of the UK’s prudential regulator for banks and insurers said on Wednesday risks and opportunities arising from the widespread adoption of artificial intelligence in the financial sector should be addressed equally. “My personal view is that we have to, and will be expected to, address equally the threat […]
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Next head of UK’s PRA says AI threats and opportunities should be addressed equally
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April 15 (Reuters) – The incoming head of the UK’s prudential regulator for banks and insurers said on Wednesday risks and opportunities arising from the widespread adoption of artificial intelligence in the financial sector should be addressed equally.
“My personal view is that we have to, and will be expected to, address equally the threat and the opportunity,” Braddick told lawmakers at her pre-appointment hearing before parliamentary Treasury Committee.
BoE Governor Andrew Bailey, who will be Braddick’s boss, on Tuesday said authorities must quickly understand the implications of a new artificial intelligence model that could pose major cybersecurity dangers.
(Reporting by Phoebe Seers, writing by Andy Bruce, editing by William James)