The Commission has today published a targeted consultation as well as organizing a series of workshops to gather stakeholders’ views on the use of artificial intelligence (AI) to financial sector. Initiatives cover use cases, benefits, barriers, risks and stakeholder needs.

The consultation and workshops are aimed at all stakeholders in the financial sector. The views gathered will enable the Commission to provide guidance to the financial sector on the application of the AI ​​Act, the EU legal framework for AI, to specific market sectors. Stakeholders are invited to participate in the consultation by submitting their views by 13 September. The views of companies already providing or developing IT systems are particularly welcome.

In addition, a series of workshops co-organized by European and national supervisory authorities will give stakeholders the opportunity to present projects and exchange views on the latest developments. Registration for the workshops, which will take place in the fall, is open until July 26.

The Commissioner for Financial Services, Financial Stability and Capital Markets Union, Mairead Magines, said: “The EU’s IT act and the existing rules in the financial sector provide a solid basis for technological innovation, while taking into account and managing risks. It is of the utmost importance that the Commission and other competent authorities work closely with each other — and with market participants — to implement these rules in a reasonable, responsible and coherent manner. We invite all interested parties to actively contribute to this process and share their views on this rapidly changing and increasingly important field where technological progress is taking place at a rapid pace.”

Lena Flitzani