UK Financial Services Workers Embrace AI but Call for Stricter Compliance Measures

LONDON—(BUSINESS WIRE)—Smarsh®, the global leader in communications data and intelligence, has released new research highlighting the perspectives of UK financial services employees on artificial intelligence (AI). The data shows that while AI is revolutionizing how these employees work and communicate, there is a growing demand for stronger guardrails to address training, privacy, and compliance issues. The survey reveals a surge in AI adoption across the financial services sector in the UK. Employees are increasingly leveraging AI tools to streamline processes, enhance decision-making, and improve customer service. However, alongside this enthusiasm, there is a clear recognition of the potential risks associated with unchecked AI implementation. Key findings from the survey include: Over 70% of respondents reported using AI in their daily tasks. Nearly 60% expressed concerns about the impact of AI on data privacy and compliance. More than half of the employees felt that adequate training and education are lacking, which could hinder the effective use of AI technologies. A significant number of employees called for more robust oversight and regulation to ensure ethical and responsible use of AI. According to the research, financial services professionals see the value in AI but are keenly aware of the need for safeguards. They recognize that AI can drive productivity and innovation, but worry that without proper controls, it could compromise sensitive data and violate regulatory standards. Jason Del Rey, Chief Executive Officer of Smarsh, commented on the findings: "AI is rapidly transforming the financial services industry, offering incredible opportunities for efficiency and customer satisfaction. However, it's equally important to balance these benefits with robust risk management. Our survey underscores the need for companies to invest in comprehensive training programs and to implement strong governance frameworks to protect their clients and comply with regulations." Smarsh’s survey highlights a crucial moment in the AI adoption journey for UK financial firms. As they continue to integrate AI into their operations, the emphasis on building a trustworthy and compliant AI environment is becoming a top priority. This shift is driven by both employee concerns and the increasing regulatory scrutiny of AI technologies in sensitive sectors like finance.