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</html><description>At the European Banking Federation, we believe that AI provides great opportunities to enhance customer experience, democratizing financial services, improve cybersecurity and consumer protection and strengthen risk management. Banks continue to invest in research and development of AI applications and the technology has come to play an integral role in a range of activities. As AI is an evolving technology, there is a need to ensure that the regulatory environment is fit for the use of AI by promoting innovation and legal certainty and maintaining a high level of consumer protection is paramount. Fostering a broad dialogue between all relevant supervisors and regulators on AI developments and their impact is a key priority for the banking sector and should be encouraged to ensure consistency and alignment across Europe and across sectors.</description><thumbnail_url>https://www.ebf.eu/wp-content/uploads/2020/03/5_15-300x200.jpg</thumbnail_url></oembed>
