Finance actually wants more regulation because of the rise of artificial intelligence fintech in the …
The finance world is cautiously optimistic about the future of artificial intelligence and how it can be used, but, there is more work needed on regulating the technology when it comes to world markets. “Financial institutions have been fined billions of dollars because of illegality and compliance breaches by traders. A logical response by banks is to automate as much decision-making as possible, hence the number of banks enthusiastically embracing AI and automation,” said Baker and McKenzie head of financial services regulation Arun Srivastava. “But while conduct risk may be reduced, the unknown risks inherent in aspects of AI have not been eliminated.” Where is AI most useful? The law firm’s research found more than 400 senior executives working in finance and fintech believe artificial intelligence (AI) will have the most impact on trading, financial…
Link to Full Article: Finance actually wants more regulation because of the rise of artificial intelligence fintech in the …
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