Last week, the UK Financial Conduct Authority (FCA) announced a new collaboration with Nvidia to launch a "Supercharged Sandbox" that will help financial services firms safely experiment with artificial intelligence.
"This collaboration will help those that want to test AI ideas but who lack the capabilities to do so," said Jessica Rusu, the FCA's Chief Data, Intelligence, and Information Officer. “We'll help firms harness AI to benefit our markets and consumers, while supporting economic growth.”
Open to any firm "looking to innovate and experiment with AI," the sandbox will give participants access to Nvidia's accelerated computing and AI Enterprise software, as well as enhanced data, technical expertise, and regulatory guidance. The initiative targets firms in the early stages of AI development, while a separate FCA Live Testing service supports those further along.
"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 Jochen Papenbrock, Nvidia's EMEA Head of Financial Technology. "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."
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