The Transformative Potential of Artificial Intelligence in Finance Supervision: Opportunities, Challenges, and Ethical Considerations

Authors

  • Baichuan Xue

DOI:

https://doi.org/10.54691/s1pe2r50

Keywords:

Artificial Intelligence; Finance Supervision; Regulatory Frameworks; Digitalization; Opportunities; Challenges; Ethical Considerations.

Abstract

The integration of Artificial Intelligence (AI) into finance supervision represents a transformative frontier in regulatory frameworks, driven by the digitization of financial markets and the imperative for enhanced regulatory oversight. This essay delves into the multifaceted landscape of AI in finance supervision, exploring the opportunities, challenges, and implications that accompany the adoption of AI technologies within regulatory practices. Through a comprehensive review of seminal works, this essay aims to elucidate the evolving role of AI in reshaping finance supervision and its implications for regulatory efficiency and effectiveness.

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References

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[10] Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance https://www.elibrary.imf.org/view/journals/087/2021/024/article-A001-en.xml.

[11] The Political Economy of AI-Driven Financial Supervision https://ethz.ch/content/dam/ethz /special-interest/dual/frs-dam/images/Resources/Hertig_Political_Economy_of_AI-Driven_Financial_Supervision_FRS_WP_October_2021.docx.pdf.

[12] AI's Reverberations across Financehttps://www.imf.org/en/Publications/fandd/issues/2023/ 12/AI-reverberations-across-finance-Kearns.

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Published

2024-10-23

Issue

Section

Articles

How to Cite

Xue, B. (2024). The Transformative Potential of Artificial Intelligence in Finance Supervision: Opportunities, Challenges, and Ethical Considerations. Frontiers in Sustainable Development, 4(10), 26-31. https://doi.org/10.54691/s1pe2r50