Artificial intelligence and financial markets

Álvaro Cartea, Jean-Edouard Colliard, Thierry Foucault, Peter Hoffmann, Rob Graumans and Jean-David Sigaux
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Álvaro Cartea: Oxford-Man - Oxford-Man Institute of Quantitative Finance - University of Oxford
Jean-Edouard Colliard: HEC Paris - Ecole des Hautes Etudes Commerciales
Thierry Foucault: HEC Paris - Ecole des Hautes Etudes Commerciales
Peter Hoffmann: ECB - European Central Bank - European Central Bank
Rob Graumans: Oxford-Man - Oxford-Man Institute of Quantitative Finance - University of Oxford
Jean-David Sigaux: ECB - European Central Bank - European Central Bank

Working Papers from HAL

Abstract: Artificial intelligence is transforming financial markets by enabling investors and intermediaries to extract more information from increasingly abundant data through advances in algorithms and computing power. We discuss how AI changes information production and decision-making, labor demand, and financial intermediation, with a particular emphasis on securities markets. We then survey the implications of this transformation for market efficiency, competition, informational frictions, and financial stability.

Keywords: market efficiency; financial stability; competition; artificial intelligence; agency conflicts (search for similar items in EconPapers)
Date: 2026-09-24
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-05763789

DOI: 10.2139/ssrn.7515878

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