Matt Worsfold has seen the evolution of data and AI from a unique vantage point. He tells GRIP’s Commissioning Editor Jean Hurley about some of the most significant shifts he’s witnessed and takes a dive into global AI regulation.

In this episode, Matt and Jean discussed:

• where we are to date with global AI regulation and the major regions and frameworks that we should be aware of;
• the recent trend, particularly in the US and UK, towards deregulation. What’s driving this, and what are the potential implications?;
• the EU’s AI Act and its key components including: the risk-based approach, the prohibition of certain AI practices, and the rules around general-purpose AI;
• the extraterritoriality of the EU AI Act;
• the latest guidance documents and interpretations emerging from the EU in relation to the Act;
•  how you can assess the level of ‘AI literacy’ within businesses;
• turning to the UK, what’s happening in terms of AI regulation, particularly within the financial services sector;
• the FCA’s AI sprint and its objectives;
• what are financial services firms using AI for in practice? And what are some of the real-world applications and challenges?;
• what about FCA directly regulating AI? Is this the right approach, and what are the potential benefits and drawbacks?;
• the FCA utilizing AI for supervision purposes and how might that look;
• what are the key considerations for businesses when it comes to AI compliance?;
• who is ultimately accountable for AI within an organization?;
• do we, as a society, truly trust AI? And how can we build greater confidence in these technologies?;
• final words of advice for businesses navigating this space.

A transcript of the podcast is available here.