{"id":781,"date":"2023-06-12T22:12:00","date_gmt":"2023-06-12T22:12:00","guid":{"rendered":"https:\/\/intercoaching.fr\/?p=781"},"modified":"2023-06-12T23:29:38","modified_gmt":"2023-06-12T23:29:38","slug":"lia-dans-la-finance-allons-nous-vers-une-nouvelle-crise-financiere","status":"publish","type":"post","link":"https:\/\/intercoaching.fr\/en_ca\/lia-in-finance-are-we-going-toward-a-new-financial-crisis\/","title":{"rendered":"AI in finance: Are we heading towards a new financial crisis?"},"content":{"rendered":"

The potential and dangers of artificial intelligence<\/h2>\n

New technologies, and in particular theartificial intelligence (AI)<\/strong>, are revolutionizing the financial sector. They offer unprecedented opportunities to improve risk management, optimize operational processes and develop new innovative services. However, they also give rise to fears about their impact on financial stability.<\/strong><\/p>\n

Thus, Gary Gensler, president of the Securities and Exchange Commission, expressed himself recently on this subject, estimating that this new technology could be the source of a crisis of 2027 or 2032<\/strong>. According to him, it is important to closely monitor developments in AI and to put in place appropriate regulations to avoid such a scenario.<\/p>\n

Risks associated with the use of AI<\/h3>\n
    \n
  • Programming errors<\/strong>\u00a0: AI relies on complex algorithms that may contain errors or biases, leading to erroneous and potentially dangerous decisions for financial stability.<\/li>\n
  • Lack of transparency<\/strong>\u00a0: AI models are often seen as \u201cblack boxes\u201d whose internal mechanisms are difficult to understand, making it difficult to monitor and control risk.<\/li>\n
  • Concentration of risks<\/strong>\u00a0: If several market participants use the same AI models, errors or biases could spread quickly and cause a systemic crisis.<\/li>\n<\/ul>\n

    Blockchain and decentralized finance: a new revolution?<\/h2>\n

    Along with the rise of AI, decentralized finance (DeFi)<\/strong>, based on blockchain and cryptocurrency technologies, is also growing in importance. DeFi makes it possible to create financial services without a centralized intermediary, thus offering greater accessibility and transparency to users. The International Recovery Bank is closely studying the potential of this technology through its innovation center BIS Innovation Hub.<\/p>\n

    However, DeFi is not without risks for financial stability:<\/p>\n

      \n
    • Volatility of cryptocurrencies<\/strong>\u00a0: The cryptocurrency market experiences strong fluctuations, which can lead to significant losses for investors and weaken trading platforms.<\/li>\n
    • Regulation and safety issues<\/strong>\u00a0: DeFi platforms often fall outside the traditional regulatory framework, which can foster fraud and scams.<\/li>\n
    • Risk of contagion<\/strong>\u00a0: If a DeFi platform fails, the losses could quickly spread to other market participants and cause a financial crisis.<\/li>\n<\/ul>\n

      Preventing a new financial crisis: the need for appropriate regulation<\/h2>\n

      To avoid a new financial crisis linked to AI or blockchain technologies, it is essential to put in place adapted regulations<\/strong> and an close supervision<\/strong> risks. Authorities should work with market players to develop effective standards and control mechanisms.<\/p>\n

      Food for thought for regulation:<\/h3>\n
        \n
      • Transparency and explainability of AI models<\/strong>\u00a0: Promote the development of intelligible and interpretable models to facilitate the supervision and control of risks
        \n

        Sources<\/h2>\n
          \n
        • https:\/\/fr.investing.com\/news\/economy\/lia-sera-la-source-de-la-crise-de-2027-ou-2032-selon-gensler-sec-2178428<\/li>\n
        • https:\/\/www.allnews.ch\/content\/points-de-vue\/la-finance-redefinie<\/li>\n
        • https:\/\/www.boursorama.com\/videos\/actualites\/jean-claude-trichet-la-crise-financiere-n-est-pas-finie-54dac285b0bd22cfa273bbb48df84852<\/li>\n
        • https:\/\/www.surf-finance.com\/conditions-bitcoin-explose-nouveau-sommets.html<\/li>\n
        • https:\/\/atlantico.fr\/article\/decryptage\/faillite-des-banques-americaines-vers-une-crise-mondiale-silicon-valley-bank-svb-credit-suisse-marches-financiers-bourse-etats-unis-wall-street-jean-paul-betbeze<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n
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