Artificial intelligence (AI) and pensions

Copyright © 2025 LexisNexis
Published by a LexisNexis Pensions expert
Practice notes

Artificial intelligence (AI) and pensions

Copyright © 2025 LexisNexis

Published by a LexisNexis Pensions expert

Practice notes
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FORTHCOMING DEVELOPMENT: On 3 February 2025, the House of Commons Treasury Committee launched an inquiry into AI in financial services to explore how UK financial services, including pensions, can take advantage of opportunities in AI while at the same time mitigating threats to financial stability (eg cybersecurity risks) and safeguarding financial consumers, particularly vulnerable customers who may be at risk of bias. For further information, see LNB News 04/02/2025 12.

What is Artificial intelligence (AI)?

Artificial intelligence (AI) refers to computer software and systems that are capable of demonstrating human intelligence. They can learn, plan, reason or process natural language as they go rather than only relying on pre-programmed tasks.

With AI expected to transform financial services, it is in the best interests of pensions professionals, trustees, employers, providers and others involved in the running of pension schemes to consider the opportunities and risks which AI may present (both now and in the future).

Any consideration of AI will inevitably require some familiarity with certain technical terms, including:

  1. •

    extractive AI vs generative AI—while extractive AI extracts

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