Claim · 2017-01-25 · event · Stated in source · Supported

In a speech of 25 January 2017, Mark Carney, Governor of the Bank of England and Chair of the Financial Stability Board, said that robo-advice and risk management algorithms in wholesale banking and markets may lead to excess volatility or pro-cyclicality through herding, particularly if the algorithms are highly correlated.

One recorded claim. The claim panel gives its qualification, the source passages with their place in each source, and how it was checked.

What it connects

The Promise of FinTech – Something New Under the Sun? → bears on → AI raises financial-stability risks through correlated behaviour

Where it appears

AI and money: what central banks and financial authorities have said, 1997–2026 →

Claim and evidence

The Promise of FinTech – Something New Under the Sun?bears on ↓AI raises financial-stability risks through correlated behaviour

Machine-checkedStated in sourceSupported

Supporting evidence: primary · 1 source

Date: 2017-01-25 · event Records dated 2017 →
Role: Context
Register (kind of text): Nonfiction
Missing element: The passage concerns algorithms and robo-advice generally; it does not attribute the herding risk to AI or machine-learning models, data or techniques.

Scope and limitsThe passage speaks of algorithms in general, within a speech on fintech; it does not name AI or machine learning as the source of the correlation. The speech elsewhere lists “innovations in machine learning” among enabling technologies. A statement of a possible risk, not evidence that it has materialised.

The evidence 01

primary sourceSupports the claim

The Promise of FinTech – Something New Under the Sun?

Bank of England · 2017-01-25

Cite the original source

Cite the original document, not Selekoa. Check these details against it.

Source excerpt

“In wholesale banking and markets, robo-advice and risk management algorithms may lead to excess volatility or increase pro-cyclicality as a result of herding, particularly if the underlying algorithms are overly sensitive to price movements or highly correlated.”

Location in source PDF p. 11 (printed p. 11), section on systemic risks of fintech

How it was read Retrieved directly from the publisher

Machine-checked · 2026-11-06

Source details and check notes

Authors: Mark Carney
Version: Retrieved for the candidate pack on 2026-11-02 (SHA-256 83aede49c1582cd2de90f00fb59a8791151819ae46a2eb27cb141db972658721). Retrieved again at admission on 2026-11-06 (same file). PDF of the speech text as published by the Bank of England
Canonical address: Open the canonical source ↗
Accessed: 2026-11-06
Language: English (en)
Attribution: Mark Carney, “The Promise of FinTech – Something New Under the Sun?”, 2017-01-25.
Reuse: No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution.
Check notes: Candidate pack passage, AI and money (research/ai-money). The quotation (37 words) matched a fresh retrieval of 2026-11-06 (the same file the candidate pack read). Matching ignored differences of whitespace, case, quotation marks, dashes, line-break hyphens and Unicode compatibility forms. No human editorial review.

Status and meaning

Editorial status. Machine-checked. Machines found this record and checked it against its sources; no person accepted it individually. Each evidence record above shows how it was checked.

Relation. A passage of the document bears on the proposition without meeting its criterion; the record names the missing element. It is not an articulation and implies no influence.

Date. Date the speech or remarks were delivered, as the text gives it.

Record ID am-u01-boe-2017-carney-promise-fintech-context