Regulatory Alerts2025-04-28
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FS25/5: AI Live Testing
The document summarizes 67 responses to an Engagement Paper proposing AI Live Testing, a program within the FCA AI Lab designed to help firms use AI safely and responsibly. The application window for the first cohort opened on 9 July and extended until 15 September 2025, with participation starting in October. The FCA plans for two cohorts of approximately 5-10 firms each, with the second cohort's application window opening before the end of the year. Respondents welcomed the initiative for increasing transparency and trust, while highlighting challenges regarding AI deployment complexity, explainability, model validation, data quality, and third-party transparency.
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