The UK government has opened an enquiry into the use of AI in banking, pensions and other financial services and its potential impacts.
The call out referenced the launch of Chinese AI firm DeepSeek, which sent equity markets into a tailspin last week. The company came as a surprise competitor to entrenched market leaders such as Nvidia, which experienced the worst one-day fall in Wall Street history after its share price tanked 17% on the day. DeepSeek sends US tech stocks spiralling but investors remain optimistic about AI DeepSeek's arrival followed of years of AI hype in markets, as major technology names and investment mandates have wedded themselves to the popular investment trend. Last week's selloff also...
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