I am delighted to follow the noble Baroness, Lady Bennett, and find myself in agreement with much of what she said, especially on finding a balance between regulations and introducing more fintech into financial services. I am delighted to speak to this group of amendments and must apologise from dropping out of the previous group, which goes to the question that the noble Baroness raised about the number of participants. I was participating in the Domestic Abuse Bill in the Chamber; I am sure many will be in that position, because we cannot be in two places at once, unfortunately.
I say at the outset that I yield to no one in my admiration for my noble friend Lord Holmes’s knowledge, expertise, passion and commitment in the area of artificial intelligence and fintech. I pay tribute to the work he has done in bringing forward this wide-ranging group of amendments. I am delighted to have co-signed and to support Amendments 112 and 115 and, rather than go through all the points that my noble friend raised, I shall just put a question to the Minister, when she comes to wind up this small debate. If we accept that there is a role for fintech and artificial intelligence in financial services, and accepting the competitive market, the nature of which my noble friend Lord Holmes explained, will the Minister support the amendments, or will she be able to set out today in what regard she accepts that we would like to promote the wider use of technology and artificial intelligence in the financial services sector? Given that, as my noble friend said, we have a good story to tell and do not wish to fall behind, does the Minister accept that, given the increasing number of graduates in the field of artificial intelligence, we owe it to them and to the universities that set them on this path to ensure that they have opportunities in this country to put their academic knowledge to good use? Are we not missing a trick in this regard by not ensuring that we enhance those opportunities? With those few comments, I shall be delighted to hear the Minister’s response to the amendments when she sums up.