Wednesday 08 July 2026 5:01 am  |  Updated:  Tuesday 07 July 2026 6:11 pm

Finally, a regulator is ahead of the curve on AI

By: Carl Hazeley

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More and more Brits are investing thanks to AI, so the FCA’s proposal to embrace that makes complete sense, writes Carl Hazeley

Finally, a regulator ahead of the curve

The FCA published the Mills Review this week, the first attempt by any regulator anywhere to map what AI will do to retail financial services. It’s quite possibly the smartest government review I’ve read. That doesn’t mean it’s perfect. 

The worst thing a great review like this can do is stall at the point of diagnosis. In this case, the output has to keep up with the pace of change.

The review says AI will transform financial services by 2030, but it is already happening. New Finimize data from our quarterly Pulse report shows 40 per cent of investors already use AI for investment research at least weekly, with the UK well ahead of the US.

The review’s own headline finding is that a fifth of UK consumers, some 11m adults, would let AI act autonomously on their finances.........

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