How can new tools and technology such as artificial intelligence encourage new ways to communicate in the world of prudential regulation?
Helen Packard, Sholthana Begum, Melvin Lopez-Corleone · Journal of digital banking. · 2022
This paper sets out how emerging technologies, such as artificial intelligence (AI), can enhance the supervisory efficiency of a modern regulator. The growth and complexity of data present both an opportunity and challenge for global regulators within the data-driven financial services landscape. The need to communicate and use data presents a skills evolution and optimisation for regulation and society. This paper includes a case study on how introducing an AI search and analysis tool has provided the Prudential Regulation Authority (PRA) at the Bank of England with a vast array of new and exciting insights.