Speeches by Yang.

“The models today—it seems that, in response to something happening or triggering an alert for a particular firm, the regulator goes in and looks. Do you see a move to a pre-warning system where the regulator has much more awareness of the models being used as opposed to the current problem-solving approach that goes in…”

“Even before things started to go wrong, would you expect to declare your model and data at the beginning?”

“When it is difficult, as in most cases, for a human to explain how a model arrived at the output that it has arrived at, in those cases do you see an argument for sharing the underlying data, the underlying model itself and even source code with regulators, Mr Otudeko?”

“Thank you very much. Ms Mackintosh mentioned there is a behind the scenes nature of these new models. One of the concerns that academics expressed in their feedback to us was about the transparency of these models. I think in particular of a 2019 case from the Dutch tax collection authority, which was a huge scandal on…”

“Thank you. Finally, Mr Luther?”

“Thank you, Ms Mackintosh. Can I speak directly to the conversations that your members are having about the risks of bias in AI? What concerns are they raising?”

“I would like to ask the panel about the interaction between AI and consumers. In particular, I am thinking about the impact on consumers of AI being used in ways that inform the decision to grant certain services and the price and the conditions on which those services are granted and the spectre of bias. We have had s…”

“Is there any disagreement on the panel with that view, Ms Mackintosh or Mr Luther?”

“I very much welcome today’s announcement on refurbishing 1,000 GP surgeries across the country, because I have made it my priority to meet with as many GPs as possible in my constituency. Our local GPs have told me that our health centres need more physical space in order to accommodate growing local needs and facilita…”

“T1. If he will make a statement on his departmental responsibilities.”

“Mr Smart, I want to come back on your previous point that lots of instances that you see are straightforward frauds or scams. To what extent is this a problem of people posing as giving financial advice when they are actually selling something completely different—they are not transacting or advocating any trades—and t…”

“Do you have a sense from the 25,000 reports from 2024 of the average size of loss? Is that something that people tend to report when they report unauthorised business?”

“I accept that this is a growing and fast-moving issue, so there might be a number of points where you want to write with the data. I will just outline a few questions, and if they all fall under the writing back category, that is fine. Ms Castledine, you mentioned that this is a growing trend. To what extent have you s…”

“Do you see a growing category not of old scams transitioning online but of entirely new scams from videos such as the one we have just seen?”

“To what extent is the growing trend in online scams driven by the people who used to do phone calls and offer unregulated advice offline moving online, and to what extent is this growing as a whole category of its own?”

“Finally, I was wondering about the demographics of the victims. What do you tend to see in the data?”

“Do you see any targeting of vulnerable groups, in particular?”

“It would be great to get any more information and any future research you are planning to do through correspondence to the Committee.”

“Thank you. Just to clarify, from your description of capital‑neutral, at the aggregate level there might not be more capital raising, but, between firms, some might need to raise and to lower. Is that what you are saying?”

“I do not know if you have already consulted with banks on that proposed implementation, but what is their view on this?”