Artificial intelligence: the AMF encourages market stakeholders to take part in two European Commission initiatives on issues specific to the financial sector

In order to gather the views of financial market stakeholders deploying or using artificial intelligence (AI) systems, the European Commission is launching two initiatives aimed at assessing market developments and AI-related risks, and preparing for the future implementation of the AI Act in the financial sector. In this context, the AMF will participate in the organisation of workshops in the second half of 2024.

Organisation of practical AI workshops

The European Commission's first initiative is a call for expressions of interest from financial services firms to take part in practical workshops dedicated to recent developments in AI in the financial sector. The AMF will be taking part in the organisation of these workshops, and invites financial services stakeholders developing artificial intelligence tools to respond to this call before July 26.

These workshops, which will also bring together other European financial authorities, are primarily aimed at stakeholders with concrete AI projects built in-house or using external service providers, and who are interested in sharing their experience. These exchanges will aim to gather feedback from selected players on their practical experience of AI in finance and identify associated regulatory issues.

These workshops will be held virtually between September and December 2024. Interested stakeholders can apply until July 26, 2024 by filling in the form via the following link: https://ec.europa.eu/eusurvey/runner/efif-ai-workshops-2024

Public consultation on the use of AI in the financial sector

The Commission's second initiative is a public consultation on the use of AI in the financial sector. This consultation will inform the Commission about the concrete applications of AI in financial services, particularly in order to better understand the opportunities and risks associated with the use of this technology.

This initiative is aimed at all players in the financial ecosystem – such as financial institutions, companies or consumer associations – who use or deploy AI applications in the financial sector, and who would like to share their observations on their use cases or on the application of regulatory texts such as the AI Act.

This consultation is open until September 13, 2024. Interested players are invited to respond via the following link: https://finance.ec.europa.eu/regulation-and-supervision/consultations-0/targeted-consultation-artificial-intelligence-financial-sector_en