On the use of artificial intelligence in financial regulations and the impact on financial stability
Fuente:
arXiv
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| Autores principales: | , |
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| Formato: | Preprint |
| Publicado: |
2023
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| Materias: | |
| Acceso en línea: | |
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| _version_ | 1866916276352319488 |
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| author | Danielsson, Jon Uthemann, Andreas |
| author_facet | Danielsson, Jon Uthemann, Andreas |
| contents | Artificial intelligence (AI) can undermine financial stability because of malicious use, misinformation, misalignment, and the AI analytics market structure. The low frequency and uniqueness of financial crises, coupled with mutable and unclear objectives, frustrate machine learning. Even if the authorities prefer a conservative approach to AI adoption, it will likely become widely used by stealth, taking over increasingly high-level functions driven by significant cost efficiencies and superior performance. We propose six criteria for judging the suitability of AI. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2310_11293 |
| institution | arXiv |
| publishDate | 2023 |
| record_format | arxiv |
| spellingShingle | On the use of artificial intelligence in financial regulations and the impact on financial stability Danielsson, Jon Uthemann, Andreas General Economics Economics Risk Management Artificial intelligence (AI) can undermine financial stability because of malicious use, misinformation, misalignment, and the AI analytics market structure. The low frequency and uniqueness of financial crises, coupled with mutable and unclear objectives, frustrate machine learning. Even if the authorities prefer a conservative approach to AI adoption, it will likely become widely used by stealth, taking over increasingly high-level functions driven by significant cost efficiencies and superior performance. We propose six criteria for judging the suitability of AI. |
| title | On the use of artificial intelligence in financial regulations and the impact on financial stability |
| topic | General Economics Economics Risk Management |
| url | https://arxiv.org/abs/2310.11293 |