UK financial regulator and Korean schools assess AI's growing influence

The Financial Conduct Authority’s executive director Sheldon Mills said the UK should review whether large‑language models such as ChatGPT, Claude and Gemini need regulation as general‑purpose AI tools because they are increasingly used for consumer financial decisions. Mills highlighted that more than a quarter of UK consumers trust these tools for financial advice, despite the fact that existing consumer‑protection rules do not cover AI‑generated advice. He warned that reliance on a small number of AI providers could create systemic risks for the financial system and suggested that the FCA consider expanding its regulatory perimeter within the next three to six months.

In South Korea, educators are confronting the rapid adoption of large language models in classrooms. Initial attempts to ban tools like ChatGPT gave way to a focus on integrating AI, teaching students to critique, revise, and justify AI‑generated content. The discussion now centres on three areas: coding education, training future AI specialists, and building broad AI literacy, while avoiding over‑emphasis on early technical training that could crowd out foundational reading and numeracy skills.