ARTIFICIAL INTELLIGENCE IN THE FINANCIAL SECTOR: FINANCIAL STABILITY AND FINANCIAL CRISIS
DOI:
https://doi.org/10.25806/fm-1660Статья поступила в редакцию: 19.10.2024
Статья принята к публикации: 25.12.2024
Статья опубликована: 27.12.2024
Keywords:
artificial intelligence, finance, financial crisis, financial stability, financial system.Abstract
The use of artificial intelligence both opens up new opportunities and preserves existing risks and generates new risks in the financial system. Financial regulators and banking supervisors are aware of the destructive effects of artificial intelligence and are concerned that artificial intelligence systems can increase risks to financial stability and provoke financial crises. In the course of this study, the possibility of increasing risks to financial stability and the onset of a financial crisis in the process of using artificial intelligence is analyzed. The results of the study show that artificial intelligence systems can undermine financial stability by increasing the risks of cybersecurity and concentration, market distortions and manipulation; they can provoke a financial crisis due to their potential to enhance herd behavior, offer a false interpretation of decisions made with the help of artificial intelligence, exacerbate the existing crisis, increase the risk and speed of digital banks, increase the speed of decision-making. All of the above can increase stress in the financial and economic systems in times of crisis and provoke a financial crisis.
Информация о публикации
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Правообладатель: Издательский дом «Академический».
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