The Finnish Financial Supervisory Authority published a thematic review on the use of artificial intelligence in the Finnish financial sector, based on survey responses from 83 firms. Most respondents reported already using AI or planning to start within the next two years, with current deployment concentrated in internal processes and customer-interface use expected to increase over the coming years. All large and medium-sized entities that responded indicated they either use AI already or intend to adopt it within two years, with the highest utilisation in banking and insurance, while some small entities such as certain consumer lenders reported no near-term plans. Common use cases included translation, information search and summarising, text generation, software coding, systems development and customer insight, and large firms also cited marketing and sales. Generative and general-purpose AI models were the most frequently used technologies at the time of the survey, while rule-based systems and algorithms were used by 68% of respondents and machine learning was also widespread; respondents expected increased use across all technologies. Key risks identified were data quality, data protection and a lack of AI expertise, alongside third-party management and contracting issues, copyright and intellectual property risks, and emissions and environmental risks linked to AI services and infrastructure; 50% of respondents reported having an AI strategy, 63% ethical AI standards and 82% AI user rules. The release also pointed to the EU Artificial Intelligence Act as a driver of sector-wide change, noting that supervisory and sanction powers for authorities will take effect on 2 August 2025.

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