DP5/22 - Artificial Intelligence and Machine Learning
Consultation paper published by the Bank of England (including the PRA) and Financial Conduct Authority as its own text. Dated 2022-10-11.
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- DP5/22 - Artificial Intelligence and Machine Learning Bank of England · published 2022-10-11 · Retrieved for the candidate pack on 2026-11-02 (SHA-256 657c63bd007f934dc9a66a2b843a838fe60a939d3c66f69357460cef64fafd2f). Retrieved again at admission on 2026-11-06 (SHA-256 fabde4a2e27cacea27129ee7c9c635c6bb0196ea3313c6dfd79a89f88565076d; web pages are served with new markup on each request). HTML of the discussion paper page as served on 2026-11-02
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- AI and money: what central banks and financial authorities have said, 1997–2026 →4 records on this document
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- AI raises financial-stability risks through correlated behaviourThe Bank of England (including the PRA) and the Financial Conduct Authority state in Discussion Paper DP5/22 of 11 October 2022 that AI models may become correlated in subtle ways and add to risks of herding or procyclical behaviour in market stress, and that uniformity across firms’ models could amplify procyclical behaviour.2022-10-11 · publication · Stated in source · Supported Inspect claim & evidence ↗AI raises financial-stability risks through correlated behaviour: propositions page →
- Reliance on a few AI providers creates concentration riskThe Bank of England (including the PRA) and the Financial Conduct Authority state in DP5/22 of 11 October 2022 that increased reliance on third parties for datasets, AI algorithms and cloud computing may amplify systemic risks, as failures or cyberattacks at critical third parties could create a single point of failure affecting multiple firms and markets.2022-10-11 · publication · Stated in source · Supported Inspect claim & evidence ↗Reliance on a few AI providers creates concentration risk: propositions page →
- The opacity of AI models complicates risk management and supervisionThe Bank of England (including the PRA) and the Financial Conduct Authority state in DP5/22 of 11 October 2022 that the growing complexity of AI models can lead to a lack of explainability or interpretability (the “black box problem”) and that this can lead to prudential risks and may require extra care to ensure accountability and oversight.2022-10-11 · publication · Stated in source · Supported Inspect claim & evidence ↗The opacity of AI models complicates risk management and supervision: propositions page →
- Existing financial rules broadly cover AIThe Bank of England (including the PRA) and the Financial Conduct Authority state in the foreword to DP5/22 of 11 October 2022 that, given the overlap of existing sectoral rules that apply to AI, their approach is largely limited to clarifying how the existing framework applies to AI and addressing identified gaps.2022-10-11 · publication · Stated in source · Supported Inspect claim & evidence ↗Existing financial rules broadly cover AI: propositions page →
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