UK’s financial watchdog to allow AI experiments with Nvidia
The Financial Conduct Authority (FCA) has announced the launch of a new sandbox which will allow firms to experiment safely with AI to support innovation.
Firms will have the opportunity to experiment with AI using Nvidia accelerated computing and enterprise software, the regulator said in a statement on Monday (9 June).
The ‘supercharged’ sandbox builds on the existing digital sandbox infrastructure provided by NayaOne, offering advanced compute power to accelerate AI innovation. Participants will gain access to Nvidia’s Accelerated Computing and AI Platform, including the comprehensive Nvidia AI Enterprise Software.
The supercharged sandbox will give firms access to better data, technical expertise and regulatory support to speed up innovation. It is open to any financial services firm looking to innovate and experiment with AI, the FCA said.
“This collaboration will help those that want to test AI ideas but who lack the capabilities to do so. We’ll help firms harness AI to benefit our markets and consumers, while supporting economic growth,” said Jessica Rusu (the FCA’s Chief Data, Intelligence and Information Officer).
The sandbox will also help firms which are in the discovery and experimentation phase with AI. An existing AI Live Testing service helps those further along in development and ready to use AI.
“AI is fundamentally reshaping the financial sector by automating processes, enhancing data analysis, and improving decision-making, which leads to greater efficiency, accuracy, and risk management across a wide range of financial activities,” said Dr Jochen Papenbrock (EMEA Head of Financial Technology at Nvidia).
“The FCA’s Supercharged Sandbox provides firms with a secure environment to explore AI innovations using Nvidia’s full stack accelerated computing platform, supporting industry-wide growth and efficiency.”
You can find out more about accessing the sandbox here.
