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Hong Kong launches GenAI regulatory sandbox across entire financial system
The initiative will cover multiple financial sectors including banking, securities and capital markets, asset and wealth management, insurance, mandatory provident fund (MPF), and stored value facilities.
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Lack of skills cited as study finds low uptake of AI by UK businesses
Size of business and sector are key factors in AI adoption, with finance, Information, and communication the areas most likely to use it.
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CMA gets commitments from Apple and Google to protect UK app developers
Move “intended to deliver immediate improvements in certainty, transparency and fairness for thousands of UK businesses dependent on app stores.”
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UK regulators must do more to tackle AI risks to financial services, MPs warn
Warning comes in report which is result of year-long inquiry by Treasury Committee, based on written submissions, correspondence from tech firms, and oral evidence by experts and regulators.
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How the ‘Brussels effect’ backfired
Once a model for the world, the EU’s rulemaking machine has faltered under the weight of its own ambition.
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New York, London, and Singapore top city-level ranking of financial hubs
Ranking is based on each city’s ability to adapt to a constantly evolving financial landscape by updating regulations, creating talent pools, and encouraging innovation.
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Singapore consults on AI risk management in financial firms
The guideline will define MAS’s expectations on to how financial institutions establish AI oversight, risk control mechanisms, and safe use of the technology.
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Junior roles at risk of being replaced by AI, survey reveals
UK public and private-sector organizations are adopting AI into their workflows, with experts saying the tech is now a necessary part of operations.