Top European bankers and regulatory agencies warn: the speed of AI development has surpassed current regulations.

According to European policy makers, financial regulation is struggling to keep pace with the rapid development of artificial intelligence. They are working hard to support the application of technology while keeping the risks facing market integrity and stability within bounds. Nikhil Rathi, CEO of the UK Financial Conduct Authority, stated that in the age of rapid technological change, especially with the acceleration of autonomous AI development, traditional rule-making cycles are no longer "viable".