Wall Street is seeing an adoption surge for complex forms of AI. But firms still need to wrap their heads around the tech -- and explain it to regulators.

Financial firms are putting more resources towards using complex forms of machine learning. And that means they'll also need to develop ways to better understand the tech and explain it both internally and to regulators. A recent survey by data giant Refinitiv on the use of artificial intelligence and machine learning in financial services found that 75% of respondents were using some form of deep learning, a type of ML that includes a series of complex, ever-evolving calculations. Those surveyed included data scientists, quants, and executives at a variety of financial firms. Geoffrey Horrell, head of Refinitiv Labs in London, told Business Insider that the surge of interest in deep learning means firms will need to invest resources in understanding these complex algorithms.