London Stock Exchange Group chief executive David Schwimmer has urged regulators to be cautious about imposing stringent rules on the use of artificial intelligence, claiming the financial services sector is only at the early stages of identifying the full set of opportunities posed by the new technology.

“You have to be careful about putting those regulatory restrictions in place before we've really figured out what the opportunity is, what the potential is and what the development path looks like,” Schwimmer said during a panel at the World Economic Forum in Davos on 16 January.