UK exposed to 'serious harm' by failure to tackle AI risks, MPs warn

More than 75% of City firms now use AI, with insurers and international banks among the biggest adopters. More than 75% of City firms now use AI, with insurers and international banks among the biggest adopters. UK exposed to'serious harm' by failure to tackle AI risks, MPs warn Consumers and the UK financial system are being exposed to "serious harm" by the failure of government and the Bank of England to get a grip on the risks posed by artificial intelligence, an influential parliamentary committee has warned. That is despite looming concerns over how the burgeoning technology could disadvantage already vulnerable consumers, or even trigger a financial crisis, if AI-led firms end up making similar financial decisions in response to economic shocks. More than 75% of City firms now use AI, with insurers and international banks among the biggest adopters.