Regulators assess AI discussion paper feedback
The Bank of England, PRA and FCA published a feedback statement on 27 October 2023, reviewing the responses received to their discussion paper on artificial intelligence (AI) released in October 2022.
Some of the key points covered include the definition of AI, domestic and international alignment, the implementation of existing frameworks such as the Senior Manager & Certification Regime and the Consumer Duty, and third-party risk management.
The feedback statement does not include new policy proposals or indications for future intervention; however it will inform the regulators’ next steps on AI regulation and guidelines.
Download this At a glance for a summary of the feedback statement.
Contact us
Peter El Khoury
Head of Banking Prudential Regulation & FS Digital Partner, PwC United Kingdom
Tel: +44 (0)7872 005506
Follow us
