November 21, 2024 at 05:18AM
Financial industry to undergo even more transformation with the recent rise of generative AI
A regulatory and supervisory framework that adapts to technological advancements is essential
Need to build on insights gained from exports to fully benefit from new technology
But technological advancements bring new risks to financial stability
As financial services grow more diverse and complex, the channels of risk transmission have become less transparent
And current financial regulations may not be fully equipped to manage new types of financial services
Nothing that touches on monetary policy from Ueda in this latest speech.
This article was written by Justin Low at www.forexlive.com.
BOJ governor Ueda: We have seen how technology has diversified financial intermediation