As part of a recently started investigation into the growing influence of artificial intelligence on banking, pensions, and other services, the UK Treasury Committee has issued a request for evidence.

The investigation will explicitly examine how the financial services industry in the UK can benefit from AI's potential while reducing risks to the stability of the banking and financial system and protecting its customers, especially those who are more susceptible. To help guide regulatory efforts, the committee says it wants to hear from a variety of perspectives. To that end, industry experts and consumers are being asked to respond to a series of questions by March 17^th.

The investigation is looking at a number of topics, including how AI affects productivity, the advantages and disadvantages for consumers and financial stability, and the direction of the technology over the next ten years. The committee will use the response to better understand how AI is being used by UK companies, the possible effects on employment in the industry, and the competitiveness of the UK in relation to other nations.

Additionally, the investigation will seek to determine the degree to which AI can endanger financial stability and whether there is a chance that cyber-security threats will rise. The City's ability to use innovations in artificial intelligence and maintain its position as a global financial leader is vital, according to Dame Meg Hillier, head of the Treasury Committee.