The rise of artificial intelligence: benefits and risks for financial stability
Report by Georg Leitner, Jaspal Singh, Anton van der Kraaij, Balázs Zsámboki, published by the European Central Bank. A staff paper is its authors’ text. Dated 2024-05.
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- The rise of artificial intelligence: benefits and risks for financial stability European Central Bank · published 2024-05 · 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
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- AI and money: what central banks and financial authorities have said, 1997–2026 →3 records on this document
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- AI raises financial-stability risks through correlated behaviourA special feature of the ECB’s Financial Stability Review of May 2024, prepared by Georg Leitner, Jaspal Singh, Anton van der Kraaij and Balázs Zsámboki, states that widespread AI adoption may harbour the potential for increased herding behaviour and market correlation, and that AI could lead to distorted asset prices, increased correlation, herding or bubbles.2024-05 · publication · Stated in source · Supported Inspect claim & evidence ↗AI raises financial-stability risks through correlated behaviour: propositions page →
- Reliance on a few AI providers creates concentration riskThe 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.2024-05 · publication · Stated in source · Supported Inspect claim & evidence ↗Reliance on a few AI providers creates concentration risk: propositions page →
- AI increases cyber, fraud and operational risks in financeThe ECB Financial Stability Review special feature of May 2024, prepared by Georg Leitner, Jaspal Singh, Anton van der Kraaij and Balázs Zsámboki, states that criminals could adapt AI for cyberattacks, market manipulation and deepfakes, and its Box A (prepared by Sándor Gardó and co-authors) states that AI tools will enhance the capabilities of threat actors, including through deepfakes in phishing.2024-05 · publication · Stated in source · Supported Inspect claim & evidence ↗AI increases cyber, fraud and operational risks in finance: propositions page →
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