FIS Horizons 2023 Brochure - Riding the wave - Flipbook - Page 4
Introduction
Sharon Lewis
Sector Group Leader of
Finance, Insurance and Investment
Paris / London
We also look at the increasing use cases for the safe
and responsible adoption of artificial intelligence (AI)
and machine learning across financial services. We
examine how the UK’s Senior Managers and
Certification Regime (SM&CR) could be fine-tuned to
provide an oversight and governance framework for
AI systems in firms and explore the possibility of AI in
an outcomes-based approach to Consumer Duty and
how much space firms should make for AI in their
interactions with consumers.
Regulators are also riding the wave of the impact of
political and economic turbulence leading to supply
chain issues, inflation, rising interest rates, and a
terrible cost of living crisis for many. We highlight the
issues which need to be considered by financial
institutions, focusing in particular on the UK but
also with snapshots of similar trends in Ireland and
the U.S.
My sense is that 2023 will not be an easy year.
However, I do hope you find this edition of Financial
Institutions Horizons informative and thoughtprovoking, which may help guide you through 2023.
If you have any questions or would like to speak to our
team about any of the challenges or opportunities
you’re facing, please do get in contact with us.
