Dutch financial institutions have been using artificial intelligence (AI) for some time and are experimenting with more advanced AI models suggesting that the use of AI will increase even more in the future. However, the Dutch regulators report that many institutions have indicated that they are reluctant to use generative AI for the
We recently saw an interesting speech from the UK on how artificial intelligence (AI) could impact financial stability.
In France, the regulatory authorities have also been looking at AI.
Here are some snippets.
A while ago, the French Prudential Supervision and Resolution Authority (ACPR) issued an important discussion document on the
On 21 May 2024, the Bank of England (BoE) published a speech by an external member of the Financial Policy Committee (FPC), Randall Kroszner. The speech is entitled Balancing the productivity opportunities of financial technology and AI against the potential risks.
In his speech Mr Kroszner discusses the importance of
On 17 April 2024, the International Swaps and Derivatives Association, Inc. (ISDA) published a whitepaper from ISDA Future Leaders in Derivatives (IFLD), its professional development program for emerging leaders in the derivatives market. The whitepaper, “GenAI in the Derivatives Market: a Future Perspective.”, was developed by the third cohort
Insurance Europe has published a response to the European Commission consultation on proposals for a regulation on the use of artificial intelligence.
Insurance Europe welcomes the overall objective of creating a principles-based framework of requirements and the development of mandatory requirements for high-risk AI systems that pose a risk to health and safety or the
The European Insurance and Occupational Pensions Authority (EIOPA) has published a report called ‘Artificial intelligence governance principles: towards ethical and trustworthy artificial intelligence in the European insurance sector’.
The report has been written in the context of the proliferation in the use of artificial intelligence (AI) in insurance and