Regulators must deal with AI risks – HKMA report
AI systems must keep “humans in the loop”, expert tells Central Banking
Regulators must ensure the increased use of artificial intelligence in finance does not increase systemic risks, a report from Hong Kong Monetary Authority says.
The greater use of AI could increase increase systemic risks from market concentration and contagion, says the report, published on August 21. It also warns of the rising interconnectedness between banks and big tech firms.
The report is based on an HKMA survey of Hong Kong’s financial institutions, which it carried out after issuing
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