AI Wales Fintech Council holds inaugural meeting

The inaugural meeting of the AI Wales Fintech Council recently brought together representatives from across Wales’ financial services and technology sectors to discuss the opportunities and challenges presented by the rapid adoption of artificial intelligence.

As part of the ongoing partnership between FinTech Wales and AI Wales, the Council provides a forum for industry leaders to share practical experiences, discuss emerging trends and explore the issues shaping the future of AI within financial services.

Chaired by Steven Williams, the first meeting welcomed representatives from FinTech Wales, Creditsafe, Brumble, Monmouthshire Building Society, Business Wales, NatWest Group, Go.Compare and LexisNexis Risk Solutions.

Discussions covered a wide range of topics, including the growing use of AI by both businesses and consumers. Members explored how organisations are increasingly seeing AI-powered tools being used to generate customer complaints, while AI agents are also beginning to influence how consumers research products and services and engage with digital platforms. These developments are creating new considerations for firms, particularly from a regulatory and compliance perspective.

The Council also examined the impact AI is having on recruitment and skills. As AI-generated CVs become increasingly common, organisations discussed the challenge of identifying candidates’ genuine capabilities while continuing to support new talent entering the workplace.

Jonathan Prescott of Cavefish demonstrated AI in action, showcasing how AI-assisted development tools are significantly reducing the time required to build digital products, while also highlighting Echodepth, the company’s multimodal emotion AI platform.

A recurring theme throughout the discussion was the importance of maintaining human judgement alongside AI, particularly when dealing with complex or sensitive customer interactions. Members also reflected on the need for organisations to prepare for evolving regulatory expectations as AI adoption continues to accelerate.

The AI Wales Fintech Council will reconvene in October to continue the conversation, share further industry insights and showcase AI innovation being developed across Wales.

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