Britain needs ‘AI stress tests’ for financial services, lawmakers say

Britain’s financial watchdogs are not doing enough to stop artificial intelligence from harming ‍consumers or destabilising markets, a cross‑party ​group of lawmakers said on Tuesday, urging regulators to move away from ⁠what it called a “wait and see” approach.

In a report on AI in financial services, the Treasury Committee said the Financial Conduct Authority and the Bank of England should start running AI‑specific stress tests to help firms ‌prepare for ‌market shocks triggered by automated systems.