Recommendation 103

Witnesses also commended the Government and the regulators’ approach to the use of AI by authorised firms. Sandra Boss told us: “By taking a principles-based approach it is enabling a rapidly changing area to develop and enabling companies to look for productivity gains.” 169 Nevertheless, some witnesses called for greater certainty over the long-term use of AI in the sector, with Innovate Finance telling us that “there is still some uncertainty in the market.” 170