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MNI BRIEF: Macropru Policy To Evolve As AI Grows - Lagarde

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MNI (LONDON) - Macroprudential policy must evolve to meet the new frontiers of financial system risk that disruptive technologies such as generative AI and quantum computing can pose for the financial system, ECB president Lagarde said in a speech on Thursday.

"We see this tension between opportunity and risk [from these technologies] playing", Lagarde said, noting that advances in quantum computing "may pose a serious threat to our encryption based financial system" and extensive uptake of AI could increase the potential for herding behavior. 

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MNI (LONDON) - Macroprudential policy must evolve to meet the new frontiers of financial system risk that disruptive technologies such as generative AI and quantum computing can pose for the financial system, ECB president Lagarde said in a speech on Thursday.

"We see this tension between opportunity and risk [from these technologies] playing", Lagarde said, noting that advances in quantum computing "may pose a serious threat to our encryption based financial system" and extensive uptake of AI could increase the potential for herding behavior. 

Keep reading...Show less