Britain's Financial Conduct Authority said on Wednesday there would be no rush to introduce detailed rules to regulate the use of artificial intelligence in financial services.

The European Union has approved a new law to regulate AI, now being increasingly used in everyday life and by companies, but other countries like Britain have yet to follow suit in a rapidly developing tech sector.

"We are not at the moment inclined to just jump in and write lots of detailed rules," FCA CEO Nikhil Rathi told an event held by IA, the UK investment management industry body.

(Reporting by Huw Jones and Iain Withers)