The Bank of England and FCA survey on ML in UK financial services

The Bank of England and Financial Conduct Authority published a report this month discussing the findings of their second survey into the state of machine learning across UK financial services. The survey targeted firms from the following sectors: banking, insurance, non-bank lending, investment, capital markets, and financial market infrastructures.

This survey builds upon the 2019 survey and is an opportunity for regulatory authorities to monitor the state of ML deployment and ensure an understanding of the use cases, benefits, and risks.

In this alert, you will read about machine learning (adoption, use, benefits, risks, constraints) and how we can help you reap all the benefits.