Estonia's Financial Supervision and Resolution Authority published survey findings indicating that most financial institutions in Estonia are already using artificial intelligence, with AI rapidly growing in importance for supporting work processes, client service and risk management. The questionnaire, run in the first half of 2025, received responses from 65 supervised companies, with most having already explored AI and many solutions at least in a testing phase. The most common uses were language processing, machine learning models and process automation, mainly in data analysis and client service. Respondents cited higher efficiency, lower costs and improved decision quality as the main benefits, while identifying data protection, model reliability and cyber security as key risks, alongside steps to strengthen internal controls, human supervision and data protection; a member of the authority’s management board also underscored the need for robust risk management, model quality and transparency to prevent errors or opacity from harming clients or market credibility.
Finantsinspektsioon 2025-12-09
Estonia's Financial Supervision and Resolution Authority survey shows widespread AI adoption across financial institutions and highlights risk management expectations
Estonia's Financial Supervision and Resolution Authority reported that most financial institutions in Estonia use AI, vital for work processes, client service, and risk management. A survey of 65 companies highlighted AI's role in language processing, machine learning, and process automation, enhancing efficiency and decision quality while posing data protection and cyber security risks. The authority emphasized robust risk management and transparency to safeguard clients and market credibility.