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Finance

U.S. banks weigh \'data nutrition labels\' amid AI spread

U.S. banks are adopting the idea of \"nutrition labels\" to show, at a glance, the quality of data fed into AI and who is accountable for it. A task force under the Financial Services Sector Coordinating Council has prepared a Data Nutrition Label framework, and some banks have begun applying it. The framework flags data provenance, quality, freshness and bias, among other factors, with stricter standards for higher-risk uses such as credit and lending decisions.

Crypto

UK House of Lords passes amendment grouping crypto, stablecoins and tokenised assets

Britain\'s House of Lords passed an amendment requiring the government to draw up a comprehensive national digital asset strategy covering cryptocurrencies, stablecoins and tokenised securities. The amendment was approved 194 to 138 during the report stage of the Financial Services and Markets Bill, despite opposition from the Labour government. It would require the Treasury to publish the strategy within 12 months of enactment and seek public input. The bill still faces further votes and consideration by the House of Commons.

AI & Enterprise

OpenAI unveils GPT-6 Astra-based ChatGPT for Financial Services targeting Wall Street junior bankers

OpenAI has unveiled ChatGPT for Financial Services, a version of its enterprise service tailored for finance and built on the GPT-6 Astra model. CNBC reported the tool is optimized for corporate research, financial data analysis and preparation of investment banking presentation materials. Morgan Stanley and Evercore are participating as partners, with initial use focused on investment banking and equity research. OpenAI said demand is high but did not name banks adopting it.