City Week is the premier gathering of the international financial services community. Organised in partnership with the UK Government and leading City institutions, City Week brings together industry leaders and policy makers from around the globe to consider the future of global financial markets.

The confluence of Big Data, Cloud Computing and AI has revolutionised the opportunities and threats that data presents to data-intensive industries such as financial services. The industry’s experience of crisis response has shown the potential risks of data sharing to the firms and their customers. As the  regulatory landscape evolves, it is becoming increasingly important to  understand a) what is driving data risks in your organisation and b) how to stay alert to far greater scrutiny from regulators, who want  financial services firms to build a strong data culture to ensure  responsible, transparent and ethical use of machine learning and data analytics. Of course, the opportunities are also huge: AI-driven data analytics can massively increase personalisation of financial products and the granularity of risk assessment.

Building on the work of the Artificial Intelligence Public Private Forum, convened by the Bank of England and the FCA, the Regulation and Risk Management of AI in Financial Services Summit focused on how best to adapt regulation and best practice risk management to facilitate increased use of AI in financial services, with specific reference to model risk management, data protection and standards, strategic  boardroom issues, governance, ethics and the role of senior management.