Artificial intelligence and financial services: Regulatory tracking and change management

Adedayo Banwo

Journal of Securities Operations & Custody, 2018, vol. 10, issue 4, 354-365

Abstract: Artificial intelligence (AI) is becoming an increasingly relevant compliance tool for regulated financial firms. Advances in computing power, data analytics and additional regulatory reporting requirements mean that potentially AI can be expanded into even more compliance areas. This paper relies on 2017 research demonstrating the ability of AI algorithms in a supervised learning environment to predict the importance of UK statutory instruments. It argues that this research is analogous to the technical requirements for regulatory tracking, impact assessment, and change management in a regulated control environment. Furthermore, it provides that such algorithms can be effectively utilised by regulated financial firms to provide an automated regulatory compliance, impact assessment and change management compliance tool.

Keywords: Artificial Intelligence (AI); Regtech; FinTech; machine learning; financial regulation (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2018
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