The Financial Conduct Authority (FCA) has launched a supercharged sandbox to let financial services firms safely experiment with artificial intelligence (AI).
Through a new deal with NVIDIA, firms can use NVIDIA’s accelerated computing and AI Enterprise Software to try out new AI ideas.
The sandbox is open to any financial services business interested in using AI, giving them access to better data, technical help and regulatory guidance.
It is aimed at firms still exploring and testing AI, while a separate AI live testing service is available for those further along in development.
The FCA’s latest strategy aims to support economic growth by helping firms use new technology like AI.
Jessica Rusu, chief data, intelligence and information officer at the FCA, said: “This collaboration will help those that want to test AI ideas but who lack the capabilities to do so.
“We’ll help firms harness AI to benefit our markets and consumers, while supporting economic growth.”
Dr Jochen Papenbrock, EMEA head of financial technology at NVIDIA, said: “AI is fundamentally reshaping the financial sector by automating processes, enhancing data analysis, and improving decision-making, which leads to greater efficiency, accuracy, and risk management across a wide range of financial activities.
“The FCA’s Supercharged Sandbox provides firms with a secure environment to explore AI innovations using NVIDIA’s full stack accelerated computing platform, supporting industry-wide growth and efficiency.”
