The Financial Conduct Authority (FCA) has unveiled a new collaboration with AI computing giant NVIDIA to allow firms the opportunity to experiment safely with AI.
The ‘supercharged sandbox’ is set to provide access to better data, technical expertise and regulatory support to accelerate innovation.
The sandbox is open to any financial services firm looking to innovate and experiment with AI.
This new launch is set to help firms who are in the discovery and experiment phase with AI, but will also provide an AI Live Testing service to help those further along in development.
In its new strategy, the FCA has committed to supporting economic growth by enabling innovation and harnessing technological advances.
Jessica Rusu, the FCA’s chief data, intelligence and information officer, said: “This collaboration will help those that want to test AI ideas but who lack the capabilities to do so.
“We will help firms harness AI to benefit our markets and consumers, while supporting economic growth.”
Dr Jochen Papenbrock, head of financial technology for the EMEA region at NVIDIA, added: “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.”
Firms can apply to use Supercharged Sandbox now through the FCA’s website. Successful applicants will be able to experiment from October.
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