É Artificial Intelligence (AI) has clearly permeated various industries, including financial services. Given its potential to significantly affect individuals’ lives and the smooth operation of the national financial system, it’s crucial that sector-specific regulations are aligned with any forthcoming general AI regulation in Brazil.

In the report “AI in the Financial Sector: Bill 2,338/2023 and the Regulation of Financial Services in Brazil,” we delve into the challenges and opportunities surrounding AI regulation in the country, focusing on the financial sector. The report aims to assess the potential overlaps between Bill 2,338/2023 and existing sector-specific regulations, offering insights on how to harmonize the different frameworks to encourage innovation while mitigating the risks associated with AI use in Brazil.

The report emphasizes the importance of multilateral governance, reviews the regulations applicable to AI systems within the financial sector, and compares AI regulatory models adopted in the United States, the European Union, and the United Kingdom, offering valuable lessons for Brazil. Targeted at lawmakers, regulators, financial institutions, academics, and developers, the study provides an overview of the financial sector’s regulatory framework and explores the intersections between Bill 2,338 and sector-specific norms, contributing to the ongoing discussions around AI regulation in the country.

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