UK Financial Watchdog Eyes Using AI to Monitor Bank Transactions

The UK’s top financial watchdog, which sifts through billions of card transactions as part of its monitoring of the country’s top banks, is weighing adopting generative artificial intelligence to help examiners collect and synthesize that information.

Already the Financial Conduct Authority has assembled a team of over 500 technologists, including data scientists with AI experience, according to Jessica Rusu, the agency’s chief data, information and intelligence officer. Those moves came as a bevy of Wall Street banks have been hoovering up AI talent in recent years, she said.

Jessica Rusu

Photographer: Chris Ratcliffe/Bloomberg

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