Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance PDF Download
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Author: El Bachir Boukherouaa
Publisher: International Monetary Fund
ISBN: 1589063953
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Author: El Bachir Boukherouaa
Publisher: International Monetary Fund
ISBN: 1589063953
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Author: Asian Development Bank
Publisher:
ISBN:
Category : Economic assistance
Languages : en
Pages : 18
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Book Description
Author: World Bank
Publisher: World Bank Publications
ISBN: 0821362429
Category : Business & Economics
Languages : en
Pages : 114
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Book Description
African countries need to improve the performance of their public sectors if they are going to achieve their goals of growth, poverty reduction, and the provision of better services for their citizens. Between 1995 and 2004, the Bank provided some $9 billion in lending and close to $900 million in grants and administrative budget to support public sector capacity building in Africa. This evaluation assesses Bank support for public sector capacity building in Africa over these past 10 years. It is based on six country studies, assessments of country strategies and operations across the Region, and review of the work of the World Bank Institute, the Institutional Development Fund, and the Bank-supported African Capacity Building Foundation.
Author: Jennifer A. Elliott
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781462310180
Category :
Languages : en
Pages : 22
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Book Description
The quality of financial sector supervision has emerged as a key issue from the financial crisis. While most countries operated broadly under the same regulatory standards, differences emerged in supervisory approaches. The international response to this crisis has focused on the need for more and better regulations (e.g., in areas such as bank capital, liquidity and provisioning) and on developing a framework to address systemic risks, but there has been less discussion of how supervision itself could be strengthened. The IMF's work in assessing compliance with financial sector standards over the past decade in member countries suggests that while progress is being made in putting regulation in place, work remains to be done in many countries to strengthen supervision. How can this enhanced supervision be achieved? Based on an examination of lessons from the crisis and the findings of these assessments of countries' compliance with financial standards, the paper identifies the following key elements of good supervision-that it is intrusive, skeptical, proactive, comprehensive, adaptive, and conclusive. To achieve these elements, the "ability" to supervise, which requires appropriate resources, authority, organization and constructive working relationships with other agencies must be complemented by the "will" to act. Supervisors must be willing and empowered to take timely and effective action, to intrude on decision-making, to question common wisdom, and to take unpopular decisions. Developing this "will to act" is a more difficult task and requires that supervisors have a clear and unambiguous mandate, operational independence coupled with accountability, skilled staff, and a relationship with industry that avoids "regulatory capture." These essential elements of good supervision need to be given as much attention as the regulatory reforms that are being contemplated at both national and international levels. Indeed, only if supervision is strengthened can we hope to effectively deliver on the challenging-but crucial-regulatory reform agenda. For this to happen, society must stand with supervisors as they play their role as naysayers in times of exuberance.
![Financial Sector Development Strategy 2011-2020 [Cambodia] PDF](https://books.google.com/books/content/images/frontcover/5TEJBgAAQBAJ?fife=w80-h100)
Author: Asian Development Bank
Publisher: Asian Development Bank
ISBN: 9290926899
Category : Business & Economics
Languages : en
Pages : 238
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Book Description
With a rapidly growing commercial economy that requires a sound financial system to sustain growth, Cambodia is committed to the long-term development of the financial sector, channeling financial resources to productive investments, and managing the inherent risks to achieve sustainable economic growth over the long term and contribute to poverty reduction. Financial Sector Development Strategy 2011–2020 reflects Cambodia’s achievements to date, provides an assessment of current challenges and constraints to financial sector development, the long-term goals, and a prioritized set of action plans for the next decade. Said strategy will enable Cambodia’s financial sector to integrate into the regional financial system and support her long-term economic development agenda.
Author: World Bank
Publisher: World Bank Publications
ISBN: 9780821364321
Category : Business & Economics
Languages : en
Pages : 494
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Book Description
In the wake of the financial crises of the late 1990s, there was a surge of interest in the systematic assessment of financial sectors, with a view to identifying vulnerabilities and evaluating the sector's developmental needs. Consequently, there has been an increased demand from financial sector authorities in many countries for information on key issues and sound practices in the assessment of financial systems and the appropriate design of policy responses. In response, Financial Sector Assessmsnet presents a general analytical framework and broad guidance on approaches, methodologies and key techniques for assessing the stability and development needs of financial systems. It synthesizes current global sound practices in financial sector assessment.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498321860
Category : Business & Economics
Languages : en
Pages : 73
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Book Description
The paper finds that while there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity.
Author: Carl-Johan Lindgren
Publisher:
ISBN: 9781557758712
Category : Business & Economics
Languages : en
Pages : 103
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Book Description
An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 149834691X
Category : Business & Economics
Languages : en
Pages : 13
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Book Description
The global economy is gaining momentum, but further progress hinges on policies to support the recovery, lift productivity growth, and enhance resilience. Against the background of rapid technological progress, a cooperative multilateral framework for trade and financial integration has served countries well, producing large economic benefits. However, some groups have not been able to share in these benefits, a trend exposed by a too-slow post-crisis recovery, which limited the room for all segments of society to experience income gains. Working within the multilateral framework, countries should strive for strong and more balanced growth and to provide economic opportunities for all. To this end, they should anticipate the effects of technological progress and economic integration, equip their populations with tools to reap the benefits, and put in place domestic policies to share them more broadly. The Fund will assist members through carefully tailored policy advice, lending to smooth adjustment, and capacity development.
Author: Simon Thorburn Gray
Publisher:
ISBN: 9781857301632
Category : Banks and banking, Central
Languages : en
Pages : 80
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Book Description
