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Call for transparency around use of AI in financial services

              

Alan Turing Institute warns AI systems can cause “significant harm” as well as bring benefits

Experts at the UK’s national institute for data science have called for more transparency around the use of artificial intelligence within the financial services sector.

According to the report, published by the Alan Turing Institute and commissioned by the Financial Conduct Authority, AI plays a “central role” in processes of technological change in financial services, offering “significant benefits” for firms, consumers and markets.

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