London-Bitten Financial Services Watchdog announced a new tie-up with US chipmaker on Monday Nvidia Let banks safely use with artificial intelligence.

The Financial Conduct Authority stated that it would launch a so -called supercharged sandbox that would “provide regulatory support to firms to speed up better data, technical expertise and innovations to innovation.”

Starting from October, financial services institutes in the UK will be allowed to use NVidia with quick computing and AI enterprise software products, Watchdog said in a press release.

The initiative is designed for firms in “Discovery and Experiment Phase” with AI, FCA stated that AI development has a separate live test service for firms.

The FCA’s main data, intelligence and information officer, Jessica Rusu said in a statement, “This cooperation will help those who want to test AI ideas, but there is a lack of capabilities to do so.” “We will help firms to exploit AI to benefit our markets and consumers by supporting economic development.”

FCA’s new sandbox is an important issue for banks, which has faced shipping challenges of advanced new AI tools to its customers amid concerns over the risks around privacy and fraud.

Openai and Google’s choice larger language models send data back to foreign features – and privacy regulators have Alarm raised How this information is stored and processed. Meanwhile there are many examples People using generative AI to scam people,

The NVIDIA graphics are behind the processing units, or behind the GPU, which is used to train and run a powerful AI model. The company’s CEO, Jensen Huang is expected to give the main things at a technical conference in London But Monday mornings.

Last year, HSBC generative AI lead, Edward Achterner told a London Tech Conference that he “sees a lot Success theater“In finance, when it comes to artificial intelligence – some financial services firm AI are avoiding advances to show for it without innovations.

He said that, while banks like HSBC have used AI for many years, new genetic AI devices such as OpenaiI chats come up with their own unique compliance risks.