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AI-driven financial services must also champion fraud prevention, FCA warns

July 13, 2023

This was the primary narrative of a speech given by Nikhil Rathi, the regulator’s chief executive, at the Economist Impact event in London this week.

Rathi’s speech centred around the growing impact of AI within the financial services industry, including the advent of new opportunities and risks, the role and implications of Big Tech firms as “gatekeepers of data” and the collaborative effort, led by the FCA, in ensuring the market’s integrity amid its growing relationship with the technology.

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