MPs launch inquiry into AI and financial services - is it time to regulate the robots?

The Treasury Committee is looking into the risks and rewards from the rise of artificial intelligence in financial services

Robot at computer
(Image credit: Getty Images/KATERYNA KON/SCIENCE PHOTO LIBRARY)

MPs have launched an inquiry into the role of artificial intelligence (AI) in financial services as the technology becomes more entwined with the sector.

Recent Bank of England data showed 75% of firms are already using AI, with a further 10% planning to use it over the next three years.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.