Barclays, Lloyds, UBS Among Banks Picked by UK FCA for AI Tests

Barclays Plc, Lloyds Banking Group Plc and UBS Group AG are among the latest group of lenders in the UK authorized to develop and test out real-world artificial intelligence applications, according to the Financial Conduct Authority.

The tier-1 banks will join the FCA’s AI Lab program designed to assess risks and help develop secure tools for consumers and markets in the absence of codified rules, the British banking watchdog announced at the Innovate Finance Global Summit on Tuesday. They will explore models ranging from agentic AI to so-called neurosymbolic AI that blends machine learning with structured reasoning, the FCA said in a statement.