Description

Closed consultation on use of artificial intelligence in finance

On 13 September 2024, the European Commission closes the public consultation on the application of artificial intelligence (AI) in the financial sector. The initiative aims to collect information on use cases, benefits, barriers, risks, and stakeholder needs related to AI in finance. The feedback will assist the Commission in providing sector-specific guidance for the implementation of the AI Act within the financial market areas. The consultation seeks to inform the Commission about the practical application and impact of AI in financial services, focusing on the objectives of the financial sector acquis and the AI Act without delving into other policy areas, such as competition policy.

Original source

Scope

Policy Area
Design and testing standards
Policy Instrument
Design requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), ML and AI development
Implementation Level
supranational
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2024-06-18
in consultation

On 18 June 2024, the European Commission launched a targeted consultation and a series of workshops…

2024-09-13
processing consultation

On 13 September 2024, the European Commission closes the public consultation on the application of …