Burges Salmon LLP submit response to the Treasury Committee’s Inquiry into AI use in banking, pensions and other financial services

Burges Salmon LLP has submitted a response to the Treasury Committee's Call for Evidence ahead of the Committee holding an inquiry into the use of AI in banking, pensions and other financial services. 

More information on the inquiry

The inquiry will focus on “how the UK financial services can take advantage of the opportunities in AI while mitigating any threats to financial stability and safeguarding financial consumers, particularly vulnerable consumers”. 

Our response draws upon our expertise in the key areas to be considered during the inquiry, including technology and AI, along with financial services, banking, and pensions. For further information on the inquiry, you can read our February article. 

The Committee's Call for Evidence from industry stakeholders closes tomorrow, 11 April 2025. We will be monitoring closely for output from the inquiry.

How we can help 

If you would like to discuss how current or future regulations may impact what you do with AI, please contact Tom Whittaker, Liz Smith, or any other member of our Technology team. For specific comment regarding the impact of AI in:

• Pensions, please contact Chris Brown or Callum Duckmanton.
• Banking and other financial services, please contact Kerry Berchem or Martin Cook.

For the latest on AI law and regulation, see our blog and sign-up to our AI newsletter. For the latest in financial services regulation you can sign up to our monthly update here. 

The Committee is inquiring into how the UK financial services can take advantage of the opportunities in AI while mitigating any threats to financial stability and safeguarding financial consumers, particularly vulnerable consumers.

https://committees.parliament.uk/work/8901/ai-in-financial-services/