# Finally, a regulator is ahead of the curve on AI > Source: > Published: 2026-07-08 04:01:00+00:00 # Finally, a regulator is ahead of the curve on AI *More and more Brits are investing thanks to AI, so the FCA’s proposal to embrace that makes complete sense, writes Carl Hazeley* ## Finally, a regulator ahead of the curve The FCA published the [Mills Review](https://www.fca.org.uk/publications/corporate-documents/mills-review) this week, the first attempt by any regulator anywhere to map what AI will do to retail financial services. It’s quite possibly the smartest government review I’ve read. That doesn’t mean it’s perfect. The worst thing a great review like this can do is stall at the point of diagnosis. In this case, the output has to keep up with the pace of change. The review says AI will transform financial services by 2030, but it is already happening. New Finimize data from our [quarterly Pulse report](https://finimize.com/business/resources/modern-investor-pulse) shows 40 per cent of investors already use AI for investment research at least weekly, with the UK well ahead of the US. The review’s own headline finding is that a fifth of UK consumers, some 11m adults, would let AI act autonomously on their finances. For an industry that has failed to build trust with everyday people, that’s perhaps the starkest warning: [people trust a chatbot](https://www.cityam.com/call-me-converted-ive-finally-found-a-positive-use-for-chatgpt/) more than they trust institutions. Of course we need guardrails, and the review asks sensible questions on impressive timelines, asking whether AI tools offering financial guidance should be brought inside the FCA’s remit within months, not years. The interesting thing for me was that it also identifies the opportunity. Britain has spent years trying to get more people investing – this year with some gusto in the shape of a furry mascot, but so far, without much to show for it. Now people are asking an AI agent questions they feel silly saying out loud, or would never pay an adviser to answer – and just like that, another barrier has been removed. When we asked new investors why they started: 6.2 per cent said AI was the catalyst. That’s small, but it’s more than double the rate among seasoned investors. The review’s best idea follows from this: a free, public-interest AI financial capability service. Whether people use it and trust it at scale depends on who is involved when it’s built and whether it’s designed with real investors in mind. If it feels like talking to an institution, it won’t get used. ## Burnham can’t afford a confidence wobble UK retail investors are paying close attention to what comes next in Westminster. Our latest Modern Investor Pulse survey shows that UK-based investors show a far stronger pull toward their domestic market than the rest of the world. That doesn’t extend to outright enthusiasm. When asked to rank global markets by attractiveness for 2026, only 9.2 per cent of UK investors put the UK in first place. When UK investors are pulling back, it’s due to a lack of confidence in the economy. If Burnham’s Chancellor wants to continue a campaign to win over retail investors (and they should), they need to build solid foundations first. British investors want to ‘buy British’, but not at all costs. ## ISAs aren’t complicated – stop treating investors like they’re idiots Lots of people I rate had the wrong opinion about the [recent tax changes to ISAs](https://www.cityam.com/hmrc-new-tax-charge-on-cash-isas-faces-industry-backlash/). For what it’s worth I think the recent changes would be a net positive. The accusation was that the rules would be too complicated – they’re not. But the debate illustrates a much broader problem: how little the industry understands investors and how quick those in the ‘know’ are to assume they are stupid. Some people may find this too complex, but they weren’t going to invest in the first place. That’s an entirely different problem and tinkering with ISAs is never going to fix it. ## Office bonfires I’m constantly looking for ways in which I can improve myself as a CEO and Finimize as an organisation, so I’m looking forward to meeting Martin Gonzalez, co-author of The Bonfire Moment, next week. Our senior leaders have read the book and have taken on parts of it in our approach. His central idea is to bring colleagues together to face hard truths, uncover fragile or hidden tensions, and build resilience that’ll pay dividends through the harder phases of growth. When you’re running a high-growth company, you can feel like you’re constantly running – but slowing down and reflecting can actually help you speed up. *Carl Hazeley is the CEO of Finimize*