Kenneth Gay

The EU AI Act with its pioneering risk-based approach, sets a precedent for regulating AI by categorising applications based on their potential risks to individuals and society. By establishing clear guidelines for high-risk AI systems whilst imposing outright bans on some risks like social scoring, the Act seeks to balance ethics with AI development. However, stringent regulations risk presents some trade-offs, like having high compliance burdens for SMEs and startups, which can stifle innovation, pushing talent and investment to more business-friendly AI regions, and limiting Europe’s AI leadership.

1. Navigating the EU AI Act: How can regulators ensure the EU remains an AI leader while implementing risk-tiered regulations that prevent harm without stifling technological progress?
2. Competitiveness vs Overregulation: With global AI competition intensifying, what policy strategies can ensure that AI startups and enterprises thrive without unnecessary compliance burdens?
3. Ethical AI as a competitive advantage: Can responsible AI practices become a strategic differentiator for European companies, positioning them as global leaders in trustworthy, human-centric AI deployment?

As AI agents evolve from automation to decision-making, how will they reshape financial services in 2025? This 2 part session brings together regulators and industry leaders to explore opportunities, risks, and the policy landscape for agentic AI in finance.

In this session, our panelists will discuss how to harness innovative technologies and collaborative frameworks that enhance financial integrity and combat the rising tide of financial crime. By exploring the intersections of diverse data sources, involving multiple stakeholders, and conceptualising broader engagement, the panel can forge a path forward that not only addresses current challenges but also fortifies the resilience of the global financial system against future threats.

Following the panel, there will be a short preview of the G20 TechSprint 2025, a joint initiative between the G20 Presidency and the BIS Innovation Hub to seek out best-in-class tech innovations to solve common challenges of the global regulatory and central banking community. This year's TechSprint invites global innovators to develop solutions addressing problem statements focused on digital identity, secure credit data portability and fraud mitigation in fast payment systems.