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LONDON – UK financial services regulator announced new collaboration with U.S. chipmakers on Monday Nvidia Let banks try AI safely.
The Financial Conduct Authority said it will launch a so-called supercharged sandbox that will “give companies better data, technical expertise and regulatory support to accelerate innovation.”
The regulator said in a press release that starting from October, financial services institutions in the UK will be allowed to try AI using NVIDIA’s accelerated computing and AI Enterprise software products.
The FCA noted that the program was designed for companies in the “discovery and experimental phase” of AI, adding that in AI development, separate real-time testing services are further present for companies.
“This collaboration will help those who want to test AI ideas but lack the ability,” Jessica Rusu, chief data, intelligence and information officer at FCA, said in a statement. “We will help companies leverage AI to benefit from our markets and consumers while supporting economic growth.”
FCA’s new sandbox solves key issues for banks, with banks facing challenges as people are concerned about the risks of privacy and fraud, delivering advanced new AI tools to customers.
Large language models from OpenAI and Google send data back to overseas facilities – Privacy Regulator Alarm raised About how this information is stored and processed. There are several examples at the same time Malicious actors use AI to cheat people.
NVIDIA is behind the graphics processing unit or GPU for training and running powerful AI models. Jensen Huang, the company’s CEO, is expected to give a keynote speech at a technical conference in London exist Monday morning.
Last year, HSBC’s head of bio-AI, Edward Achtner, told the London Tech Conference that he saw a lot Success Theater“In terms of AI, in terms of finance, it is implied that some financial services companies are touting advances in AI without obvious product innovations to showcase.
He added that while banks like HSBC have used AI for many years, the newly generated AI tools from Openai’s Chatgpt, such as Openai’s Chatgpt, bring their own unique compliance risks.
