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Archive » November 2024 » Artificial Intelligence and the financial sector: Opportunities, risks and regulation

Artificial Intelligence and the financial sector: Opportunities, risks and regulation

Leonardo Gambacorta
November 2024 - n. 11
Keywords: Intelligenza artificiale, settore finanziario, innovazione tecnologica
Jel codes: G20, O33, K24

Artificial Intelligence, especially generative Ai, is transforming the financial sector by improving operational efficiency, risk management, and consumer interactions. Technological advances create opportunities, such as much greater data analytics and automation capabilities, but they also introduce new risks such as biases, cybersecurity threats, and potential financial stability implications. Regulation needs to keep pace with these changes. In this constantly evolving landscape, it will be of paramount importance to cooperate internationally to harmonize Ai governance and ensure compliance with ethical standards to balance innovation and management of risks.

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