In our response to the public consultation on the “White Paper on Artificial Intelligence – A European approach to excellence and trust”, ACCIS calls on European policy-makers to enable consumers and the economy to benefit from the use of AI whilst, at the same time, proper guardrails to ensure fair outcomes for consumers are put in place.

In considering rules for AI, the Commission should take into account the existing body of legislation and guidance which may already address some of the concerns mentioned in the White Paper. This is the case for example in relation to the recently issued Guidelines from the European Banking Authority on loan origination and monitoring, which cover credit decision-making process that use automated models.