Haldane warns against blind trust in AIs

AI systems should not be used for autonomous supervision, says former BoE chief economist

Artificial intelligence

Artificial intelligence systems should not be responsible for financial firms’ risk management nor autonomously supervise them, new research from the Bank of England argues.

The BoE’s former chief economist, Andy Haldane, writing with Marcus Buckmann and Anne Caroline Hüser, compares human and artificial intelligence decision-making capabilities.

The authors say there are situations where AI agents outperform humans, notably the ability to process large datasets quickly, or to make unbiased

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