Financial Regulator Vows To Boost Use Of AI In Oversight

Law360, London (May 25, 2021, 3:57 PM BST) -- The Prudential Regulation Authority plans to make greater use of artificial intelligence and focus on the technology needed for frontline supervision, according to its business plan for the next financial year.

The Bank of England's regulatory arm said on Monday that it wants to continue to use new and emerging regulatory technology in its internal operations in 2021/22 as it aims to meet commitments to embrace new technology and improve its effectiveness as a regulator.

"We will follow through on the commitments set out in our response to the Future of Finance Report to develop further our regtech strategy," Sam Woods, PRA...

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