The Bank of England has been looking at how AI might impact the financial system as a whole

The Bank of England has been looking at how AI might impact the financial system as a whole. In their Financial Stability in Focus report, they have explored both the opportunities and the risks associated with widespread AI adoption in finance.

AI can be beneficial by driving huge efficiency gains, improving risk modelling and customer service but it also introduces new vulnerabilities. From algorithmic bias to potential systemic shocks caused by AI-driven decision-making.

Their message is clear: regulators, financial institutions, and tech developers must collaborate closely to ensure the developments don’t outpace safety.

📘 Have a read of the full report:https://heyor.ca/P0j9JV

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