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The ECB Financial Stability Review special feature of May 2024, prepared by Georg Leitner, Jaspal Singh, Anton van der Kraaij and Balázs Zsámboki, states that if most financial institutions use the same or very similar foundation models from a few suppliers, reliance on those providers increases and single-point-of-failure risks arise. Copy claim link
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Date 2024-05 · publication Records dated 2024 → Role Articulation Register (kind of text) Nonfiction Scope and limits States a conditional channel (“supplier concentration”) and notes that future levels of concentration are difficult to predict; it cites concentration of investment in AI firms, not observed failures.
The evidence 02 primary source Supports the claim
The rise of artificial intelligence: benefits and risks for financial stability ↗ European Central Bank · 2024-05
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Source excerpt “If a majority of financial institutions use the same or very similar foundation models provided by a few suppliers, it is likely that decisions based on AI will suffer from similar biases and technological challenges, and reliance on system providers will increase.” Location in source Section “Financial stability implications of AI”
How it was read Retrieved directly from the publisher
Machine-checked · 2026-11-06
Source details and check notes Authors Georg Leitner; Jaspal Singh; Anton van der Kraaij; Balázs Zsámboki Version Retrieved for the candidate pack on 2026-11-02 (SHA-256 cf5b2c1621ba1591fb3b4c4aabc4a013108254efe307797711a8b339ad65ce3b). Retrieved again at admission on 2026-11-06 (SHA-256 b19d563ac6f4dbed1d9dca9ddc1dd3d60e3a63d0a17789468e84eda204c8a5d2; web pages are served with new markup on each request). HTML of the special feature in the Financial Stability Review, May 2024, as served on 2026-11-02 Canonical address Open the canonical source ↗ Accessed 2026-11-06 Language English (en) Attribution Georg Leitner, Jaspal Singh, Anton van der Kraaij, Balázs Zsámboki, “The rise of artificial intelligence: benefits and risks for financial stability”, 2024-05. 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 (42 words) matched a fresh retrieval of 2026-11-06. Matching ignored differences of whitespace, case, quotation marks, dashes, line-break hyphens and Unicode compatibility forms. No human editorial review. primary source Supports the claim
The rise of artificial intelligence: benefits and risks for financial stability ↗ European Central Bank · 2024-05
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Cite the original source Cite the original document, not Selekoa. Check these details against it.
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Source excerpt “Both would be amplified if the number of AI suppliers is limited, as this would additionally increase the financial system’s dependency on third-party providers and introduce single-point-of-failure risks.” Location in source Section “Financial stability implications of AI”
How it was read Retrieved directly from the publisher
Machine-checked · 2026-11-06
Source details and check notes Authors Georg Leitner; Jaspal Singh; Anton van der Kraaij; Balázs Zsámboki Version Retrieved for the candidate pack on 2026-11-02 (SHA-256 cf5b2c1621ba1591fb3b4c4aabc4a013108254efe307797711a8b339ad65ce3b). Retrieved again at admission on 2026-11-06 (SHA-256 b19d563ac6f4dbed1d9dca9ddc1dd3d60e3a63d0a17789468e84eda204c8a5d2; web pages are served with new markup on each request). HTML of the special feature in the Financial Stability Review, May 2024, as served on 2026-11-02 Canonical address Open the canonical source ↗ Accessed 2026-11-06 Language English (en) Attribution Georg Leitner, Jaspal Singh, Anton van der Kraaij, Balázs Zsámboki, “The rise of artificial intelligence: benefits and risks for financial stability”, 2024-05. 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 (28 words) matched a fresh retrieval of 2026-11-06. 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.
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Record ID am-u02-ecb-2024-fsr-ai