Support Centre

You have out of 5 free articles left for the month

Signup for a trial to access unlimited content.

Start Trial

Continue reading on DataGuidance with:

Free Member

Limited Articles

Create an account to continue accessing select articles, resources, and guidance notes.

Free Trial

Unlimited Access

Start your free trial to access unlimited articles, resources, guidance notes, and workspaces.

ADGM: FSRA and MBZUAI sign MoU to develop AI regulatory compliance tools

On November 16, 2023, the Abu Dhabi Global Market (ADGM) Financial Services Regulator Authority (FSRA) announced that it had signed a Memorandum of Understanding (MoU) with Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) to develop artificial intelligence (AI) technology tools to assist in regulatory compliance tasks within the financial services sector.

Compliance automation

In particular, the FSRA noted that the tools would leverage AI to generate insights and information from financial regulations and rules, which can be used by financial services firms to optimize and automate their decision-making processes in relation to regulatory compliance.

Risk Analyzer platform

Notably, the FSRA highlighted that it would enhance the FSRA's 'Risk Analyzer' platform which employs AI to sift through documents related to a supervised firm and provide insights about the firm to FSRA supervisors to assist in the FSRA's assessment and decision-making. The FRSA stated that an industry-facing version of the Risk Analyzer would be introduced to enable financial firms to develop their regulatory submissions or assess their compliance with FSRA's regulations and standards.

You can read the press release here.