{"slug": "uks-reeves-to-focus-on-ai-opportunities-in-speech-to-city", "title": "UK’s Reeves to Focus on AI Opportunities in Speech to City", "summary": "UK Chancellor Rachel Reeves will deliver a speech at the Mansion House dinner on Tuesday, focusing on AI opportunities in financial services and announcing a 'Financial Services AI Adoption Plan' based on recommendations from banking industry figures. The speech, likely her last as chancellor before a leadership change, will also highlight the economic achievements of the outgoing government.", "body_md": "(Bloomberg) -- Rachel Reeves heads to what's likely to be her last City of London event next week, a final opportunity to defend her legacy after almost exactly two years as the UK's first woman Chancellor of the Exchequer.\n\nMost Read from Bloomberg\n\n-\n[OpenAI Engineer's 'LOL' Moment Set Stage for Legal Fight With Apple](https://www.bloomberg.com/news/articles/2026-07-11/openai-engineer-s-lol-moment-set-stage-for-legal-fight-with-apple?utm_campaign=bn&utm_medium=distro&utm_source=yahooUS) -\n[Canada Gives Share of Bridge Profits to US to Get Trump Go-Ahead](https://www.bloomberg.com/news/articles/2026-07-10/us-canada-strike-deal-to-open-4-5-billion-gordie-howe-bridge?utm_campaign=bn&utm_medium=distro&utm_source=yahooUS) -\n[Iran Rejects US Talks as Trump Issues Fresh Threat to Tehran](https://www.bloomberg.com/news/articles/2026-07-11/iran-rejects-us-talks-unless-washington-meets-its-conditions?utm_campaign=bn&utm_medium=distro&utm_source=yahooUS)\n\nSpeaking on Tuesday at the Mansion House dinner, a high-profile event attended by the city's top financiers, Britain's finance minister is set to announce plans for greater use of AI in financial services. Her speech will also spell out the economic achievements of Keir Starmer's outgoing government, including increased investment and jobs.\n\nThe outing is likely to be among Reeves' last as chancellor. Former Greater Manchester Mayor Andy Burnham is poised to succeed Starmer as prime minister on July 20 and is widely expected to replace her. Speculation is rife about who will fill the job that will be central to his agenda and the economic challenges the country faces, with Energy Secretary Ed Miliband and former Health Secretary Wes Streeting both seen as being in the mix.\n\nSenior figures in the City had hoped that the dinner, which is hosted by the City of London Corporation, would be delayed to give them a chance to hear from the incoming chancellor.\n\nRachel Blake, who was appointed Economic Secretary to the Treasury — also known as City Minister — by Starmer just nine weeks ago, told Bloomberg that Reeves would use the speech to make clear how financial services growth and competitiveness fit into the government's wider industrial strategy.\n\n\"We will be talking about what we said we would do, what we have done and the impact it has had on our economic foundations and then reflecting further forward,\" Blake said.\n\nReeves is due to announce a \"Financial Services AI Adoption Plan\" based on the findings of two banking industry figures appointed in January to look at opportunities and challenges relating to greater use of AI in banking, insurance and asset management. Their full recommendations are due to be released on Tuesday ahead of the chancellor's speech.\n\nIssues that they have grappled with include the appropriate use by UK-regulated firms of large language models owned by US companies, how to source enough talent and skills, and consumer protection in areas such as agentic commerce, which uses AI agents to search for the best deals.", "url": "https://wpnews.pro/news/uks-reeves-to-focus-on-ai-opportunities-in-speech-to-city", "canonical_source": "https://ca.finance.yahoo.com/news/uk-reeves-focus-ai-opportunities-230100512.html", "published_at": "2026-07-11 23:01:00+00:00", "updated_at": "2026-07-12 12:06:59.985837+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-policy", "ai-products"], "entities": ["Rachel Reeves", "Keir Starmer", "Andy Burnham", "Ed Miliband", "Wes Streeting", "Rachel Blake", "City of London Corporation", "Bloomberg"], "alternates": {"html": "https://wpnews.pro/news/uks-reeves-to-focus-on-ai-opportunities-in-speech-to-city", "markdown": "https://wpnews.pro/news/uks-reeves-to-focus-on-ai-opportunities-in-speech-to-city.md", "text": "https://wpnews.pro/news/uks-reeves-to-focus-on-ai-opportunities-in-speech-to-city.txt", "jsonld": "https://wpnews.pro/news/uks-reeves-to-focus-on-ai-opportunities-in-speech-to-city.jsonld"}}