The adoption of AI-based tools has been expanded in various sectors, such as banking, investment, and insurance, as a result of recent technological advancements in AI. Examples include applications in fraud detection, credit decisioning, risk management, textual analysis, coding, customer service, compliance, capital optimisation, and portfolio management, among others, which frequently enhance the accuracy, speed, and efficiency of processing.

AI applications in financial services, including creditworthiness assessments and risk evaluations in life and health insurance, are classified as high-risk. These systems are required to adhere to rigorous standards, which include human oversight, technical documentation, and robust data governance. In order to implement high-risk AI systems, financial institutions must establish quality management systems, conduct conformity assessments prior to their release to the market, maintain comprehensive technical documentation, establish monitoring systems after the market has gone live, and notify the relevant national authorities of any significant incidents.

The objective of the online seminar is to offer a comprehensive perspective on the current European legislation and case law of the Court of Justice, investigate emerging trends in financial market regulation, and facilitate dialogue among practitioners working in compliance and financial supervision.

Key topics

• Overview of the EU Artificial Intelligence Act
• AI in finance: use cases and regulatory implications
• MiFID II meets machine learning
• Automated decision-making, credit scoring and beyond
• Supervising high-risk AI in financial services
• Transparency, explainability, and human oversight
• Emerging trends in EU and national financial regulation
• Compliance, governance, and enforcement

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