The Financial Conduct Authority (FCA) has collaborated with NVIDIA to launch a ‘Supercharged Sandbox’ to help firms experiment safely with AI to support innovation.

Through the collaboration, firms will have the opportunity to experiment with artificial intelligence using NVIDIA accelerated computing and NVIDIA AI Enterprise Software.

The Supercharged Sandbox will give firms access to better data, technical expertise and regulatory support to speed up innovation.

This will be open to any financial services firm looking to innovate and experiment with AI.

An existing AI Live Testing service helps those further along in development and ready to use AI.

In its new strategy, the FCA has committed to supporting economic growth by enabling innovation and harnessing technological advances like AI.

FCA chief data, intelligence and information officer Jessica Rusu says: “This collaboration will help those that want to test AI ideas but who lack the capabilities to do so. We’ll help firms harness AI to benefit our markets and consumers, while supporting economic growth.”

NVIDIA EMEA head of financial technology Dr Jochen Papenbrock adds: “AI is fundamentally reshaping the financial sector by automating processes, enhancing data analysis, and improving decision-making, which leads to greater efficiency, accuracy, and risk management across a wide range of financial activities.”

“The FCA’s Supercharged Sandbox provides firms with a secure environment to explore AI innovations using NVIDIA’s full stack accelerated computing platform, supporting industry-wide growth and efficiency.”

Last week, the FCA and the Information Commissioner’s Office announced they will draw up new rules on the use of AI across the financial services firms.