Question to the Department for Science, Innovation & Technology:

To ask His Majesty's Government what assessment they have made of the regulatory and consumer protection implications of the use of AI as financial guidance tools; and what safeguards they are putting in place to protect consumers.

The Government aims for the UK to be a global leader in AI, using our strengths in financial services and AI to boost growth, productivity and consumer benefits. Safe adoption is central to this.

Organisations must handle personal data fairly, lawfully, transparently and securely, with individuals retaining rights such as access, correction and deletion.

The Financial Conduct Authority is also acting in this space, including publishing guidance for consumers on using AI tools for investment research and highlighting risks like inaccurate or outdated information.

The FCA’s Supercharged Sandbox and AI Live Testing service give firms access to computing, data and safe real‑world environments to support responsible AI use in UK financial markets.

More broadly, the Government recognises that people often lack the support they need when making financial decisions. To improve this, we are introducing a new targeted support regime enabling trusted firms to suggest suitable products or actions based on a customer’s circumstances. Targeted Support will launch in April 2026.