Business meeting with people around a table and digital data visuals in the foreground.
Firms are using AI to drive efficiency, support decision-making and deliver better outcomes for consumers and markets. We want to support that innovation. But it must be safe, responsible and well governed.
We have been clear that we are not going to introduce new regulations for AI. Instead, we’ll rely on existing frameworks, including the Consumer Duty, the Senior Managers and Certification Regime (SM&CR), and our expectations on governance and controls.
We recognise that AI can raise new and practical questions, and we want to help industry to tackle these. So, we are speaking to firms on topics such as:
- How firms oversee and govern AI.
- How they test models and monitor outcomes.
- How they ensure fair treatment for customers, including those with features of vulnerability.
- How they explain AI-driven decisions.
We will share good and poor practice later this year on questions like these to better support firms in adopting AI safely and responsibly and as we see AI technology develop.
As we see AI technology continue to develop, we’ll share what we learn.
In collaboration with industry
Given the pace of development, this good and poor practice needs to be grounded in the latest examples and answer the urgent questions industry has.
That is why engagement is so important. We want industry to tell us:
- What is working well.
- Where firms are facing challenges.
- Where further clarity would help.
This helps us build an evidence-led view of AI in financial services. To help us do this, we have launched our AI Input Zone[2] online survey to hear directly from stakeholders about what works well in practice and where improvements are needed.
This survey allows stakeholders to:
- Share AI use cases.
- Highlight challenges or barriers.
- Tell us where further clarity would help.
- Contribute to our understanding of emerging risks.
We are keen to get a wide range of views and would welcome yours. The AI Input Zone closes on 19 June 2026.
Learning together through the AI Lab
But that’s not the only way you can work with us. The AI Input Zone is part of our wider AI Lab[3], which is helping to deepen our understanding of the risks and opportunities AI presents to UK consumers and markets.
The different components of the AI Lab include:
- Supercharged Sandbox[4]: providing access to high-performance computing, enriched datasets and advanced AI tools to develop and test early-stage AI ideas. Applications for Cohort 2 are now being considered.
- AI Live Testing[5]: giving firms a safe place to test AI systems in real-world conditions, with appropriate regulatory support and oversight. Cohort 2 has just launched[6] and we will be publishing a report summarising our learnings early next year.
- AI Spotlight[7]: showcasing how firms are experimenting with AI in financial services. Applications to be part of the AI Spotlight remain open; apply via our Innovation platform[8].
- AI Sprint[9]: an event that brought together industry, academics, regulators, technologists and consumer representatives to help inform our regulatory approach to AI and how we can create the right environment for growth and innovation. We may repeat this in future.
- AI Small Firms event: a targeted event to understand the particular needs of and challenges facing smaller firms in adopting AI and how the FCA can support them.
Running in parallel to this work, the independent Mills Review[10] will be published in the summer, looking into the long-term impact of AI.