The Financial Conduct Authority (FCA) is set to launch a live artificial intelligence (AI) testing service in September 2025. 

The FCA is seeking views from firms about how its live AI testing service can help them deploy safe and responsible AI. 

The live testing service, which would be the latest component to the FCA’s AI Lab, would allow firms to collaborate with the regulator while they check that their new AI tools are ready to be used. 

In addition, the FCA says it would provide them with intelligence to better understand how AI may impact UK financial markets. 

The proposed live testing service would run for 12 to 18 months and will provide regulatory support to firms who are ready to deploy consumer or market-facing AI models.

The proposal builds on the FCA’s new five-year strategy.

FCA chief data, intelligence and information officer Jessica Rusu says: “Under our new strategy, we’ve committed to being increasingly tech positive to support growth.”

“We want financial firms and their customers to benefit from AI, so we’re providing a safe space to test how they plan to use it.”

Feedback on the service will close on 10 June.