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The Bank of England (BoE) and the Financial Conduct Authority (FCA) published a feedback statement summarizing the responses to the joint discussion paper (DP5/22) on Artificial Intelligence (AI) and machine learning. The feedback statement provides a summary of the responses to the October 2022 Discussion Paper on AI and machine learning (DP5/22). It does not include policy proposals but it suggests the regulatory direction of travel and flags how firms are prioritizing AI risks and approaching creating AI governance frameworks. The regulators asked respondents whether a financial services sector-specific regulatory definition of AI would be beneficial.
