The UK's Financial Conduct Authority (FCA) has announced a collaboration with U.S. chipmaker NVIDIA (NVDA, Financial) to develop a regulatory sandbox for artificial intelligence (AI) trials within the financial sector. Starting in October, UK financial institutions will be able to leverage NVIDIA's accelerated computing platform and AI enterprise software to conduct AI experiments.
This initiative, named the "Supercharged Sandbox," is designed specifically for financial institutions engaged in AI exploration and experimentation. For more mature AI applications, the FCA has set up separate live testing services.
The partnership aims to assist organizations that have innovative AI ideas but lack the capabilities to implement them. According to FCA's Chief Data Officer, this effort will help companies harness AI technology while ensuring economic growth and protecting market and consumer rights.
