Powering the digital economy: opportunities and risks of artificial intelligence in finance

Departmental paper No. 2021/24

Format:

Corporate Author:

International Monetary Fund Money and Capital Markets Department

Author:

El Bachir Boukherouaa

Publisher:

IMF

This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight

Extent	31p.	ISBN	9781589063952
Size	N/A	Price	£17.00
Format	Paperback	Published	22 Oct 2021
Availability	Out of stock - available to order	Delivery	Delivery options and charges