Impact of artificial intelligence on the financial sector
TA-10-2025-0286 · P10_TA(2025)0286 · PE773.328
- Adopted in plenary on · Adopted 426–182–39 · See the decision →
- Full procedure 2025/2056
Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.
Parliament's resolution on the impact of artificial intelligence on the financial sector notes the broad adoption of AI and its benefits, while stressing risks and the need for human oversight.¶¶¶ It calls for clear guidance, consistent supervision, and support for innovation, while cautioning against over-regulation and gold-plating.¶¶¶ It urges supervisors to monitor risks, including concentration and herd behaviour, and to enhance cooperation and tools.¶¶¶ It asks the Commission to explore AI-driven tools for the savings and investments union and to boost EU AI investment.¶¶
Key points
- Notes that AI adoption in EU financial services is broad, with generative AI mostly in testing, and stresses that fully autonomous AI should have human oversight.¶
- Believes AI brings societal benefits like fraud detection and personalised advice, but must balance innovation with risk management and consumer protection.¶
- Highlights risks from poor data quality, model hallucinations, and opacity, and stresses the need for robust data governance and human oversight.¶
- Calls on European and national supervisors to adapt to AI use, monitor risks, and avoid disproportionate compliance burdens.¶
- Urges supervisors to monitor concentration risks from AI providers and herd behaviour in investment advice.¶
- Notes reliance on third-party technology providers and requests assessing exit strategies under DORA for AI models.¶¶
- Calls for strengthening compatibility with international partners and supporting EU AI and cloud development.¶¶
- Expresses concern about regulatory overlaps and legal uncertainty in AI Act implementation, asking the Commission to address inconsistencies.¶
- Encourages supervisory coordination and international cooperation to avoid fragmentation.¶
- Calls for clear guidance on applying financial services law to AI, consistent definitions, and avoiding one-size-fits-all approaches.¶
- Believes current sectoral legislation is largely sufficient, advises against gold-plating, and calls for monitoring future gaps.¶
- Calls for removing entry barriers for AI-driven firms, supporting AI literacy and reskilling, and assessing AI regulatory sandboxes.¶¶¶
Who is affected
- Financial institutions in the EU, which must ensure human oversight and comply with existing regulations.¶¶
- European and national supervisory authorities, which are urged to monitor AI risks and enhance cooperation.¶¶¶
- Consumers of financial services, who should benefit from lower prices and better advice, but need protection from risks.¶¶
- Third-party technology providers hosting AI models, whose concentration risk is a concern.¶
- Workers in the financial sector, who need AI literacy and reskilling support.¶
Figures and deadlines
- EUR 33 billion in venture funding for EU foundational model companies between 2018 and 2023.¶
- Over EUR 120 billion received by US counterparts in the same period.