Lord Holmes of Richmond, author of the AI Regulation Bill, shares his insights on the urgent need for AI legislation in the UK. He discusses the balance between regulating developers and users of AI while advocating for a dedicated AI authority. The conversation also emphasizes the importance of public engagement and trust, suggesting meaningful consultations to foster acceptance. Additionally, they explore the societal impacts of AI in areas like health and education, highlighting the crucial role of responsible regulation to maximize benefits and minimize risks.

Rebecca Healey, Managing Partner at Red Lap Consulting and an expert in AI's impact on capital markets, dives into her latest research on AI in trading. She discusses the evolution from basic machine learning to advanced algorithms, emphasizing how Generative AI can transform data analysis. The conversation also highlights the shift toward personalized trading strategies and the importance of overcoming implementation challenges, including compliance and robust data management, while navigating the hype surrounding AI.

Derrick Hastie, Chief Technology Officer at Legal & General Investment Management, shares insights on AI's transformative role in the investment sector. He discusses the challenges of integrating generative AI and overcoming cultural resistance in organizations. The importance of pilot programs and effective communication to foster innovation is emphasized. Additionally, Hastie highlights the pressing need for AI skills in the job market and the collaboration necessary to bridge the skills gap, ensuring future growth in investment management.

Joel Miller, AI Consultant and Co-Founder at ExoBrain, shares his insights on the vital role of AI in transforming asset management. The discussion highlights a 10-step plan that firms can adopt to stay competitive, stressing continuous innovation and sound governance. Miller emphasizes the importance of data quality and the establishment of a Center of Excellence to enhance collaboration within financial institutions. They also explore recent AI advancements, including OpenAI and Microsoft’s innovations, shaping the future landscape of the industry.

Labour has formed a new government with a strong mandate for ‘change’. After 14 years out of office Labour are back and have the opportunity to shape things for the foreseeable future. What do we know of their plans for AI regulation, and how will they look to balance the opportunities for the UK economy with managing the risks for individuals and consumers? Turning a page and starting the second series of the podcast, James King provides a summary of what we can expect from the first days of the new government.

The final episode of series one discusses financial stability and systemic risks from the use of AI in asset management. Merlin Stein, AI governance researcher at the University of Oxford and co-author of recent BIS Working Paper on AI (available at https://www.bis.org/publ/work1194.htm), joins John Allan to outline the paper’s findings on the potential of an ‘Intelligent financial system’ transformed by AI, and what it means for future regulatory policy – and asset manager’s roles.

The three organisations that make up the UK’s AI Standards Hub, The Alan Turing Institute, the National Physical Laboratory and the British Standards Institution, discuss the role of AI standards and the current domestic and international priorities in this space.

In this thought-provoking episode of IA Talks AI, host James King chats with Chris Cummings, the CEO of the Investment Association, about the transformative impact of artificial intelligence on investment management. They delve into how AI is revolutionizing strategy and operations within the industry. Key Points Discussed: - The strategic importance of technology and innovation for staying competitive globally.- How AI creates opportunities throughout the value chain in investment management.- The role of IA's Fintech proposition 'Engine' in bridging between fintechs and investment firms.- The necessity for transparency regarding AI use by job candidates in finance.- Enhancing member services through internal adoption of fintech solutions at IA.- Launching a sandbox to experiment with how tasks can be improved using AI at IA.

Rebecca Healey, Managing Partner at Redlap Consulting, discusses how AI can revolutionize the investment arena, including its impact on sustainable finance and the changing role of quant engineers. The podcast also explores the ongoing regulatory debate around AI and the importance of understanding its capabilities for smart trading and generating alpha.

In this episode of the IA talks AI, we speak to Robin Bylenga, Information Security Awareness, Education and Communications Lead at DWS Group, about the human factors behind how employees interact with AI technology.