AI adoption

  1. Banks and model risk

    Australia's Prudential Regulator Says Assurance Practices Are Not Keeping Pace With AI at the Selected Large Entities It Engaged With

    In a letter of April 30, 2026 to the entities it regulates, APRA reports what it found among selected large banks, insurers and superannuation trustees, among them a reliance on "point in time and sample based assurance methods" that it calls "ill suited to probabilistic models that learn, adapt and degrade over time."

  2. People and training

    More Likely to Be Retrained Than Replaced: The New York Fed's Regional Business Surveys on AI and Workers, September 2026

    In September 2026, a post on the New York Fed's economics blog reported its regional surveys of firms on AI. Layoffs in response to AI remained uncommon, it says, and retraining remained the primary way firms adjusted their workforces.

  3. What firms and leaders say

    The Self-Reported Use of AI: The UK Statistics Office on Artificial Intelligence in UK Businesses, July 2026

    In July 2026, the UK's Office for National Statistics reported how UK businesses are using AI, from its survey of businesses. That survey, it says, "treats all reported uses as equivalent," light or embedded.

  4. Banks and model risk

    Partial Understanding: The Bank of England and FCA's Survey of AI in UK Financial Services, November 2024

    In November 2024, the Bank of England and the FCA published the results of their 2024 survey of AI in the UK financial firms they regulate. Many firms said they had only "partial understanding" of the AI they use, largely because of third-party models.