Artificial intelligence and financial crises

Jon Danielsson and Andreas Uthemann

Papers from arXiv.org

Abstract: The rapid adoption of artificial intelligence (AI) is transforming the financial industry. AI will either increase systemic financial risk or act to stabilise the system, depending on endogenous responses, strategic complementarities, the severity of events it faces and the objectives it is given. AI's ability to master complexity and respond rapidly to shocks means future crises will likely be more intense than those we have seen so far.

Date: 2024-07
New Economics Papers: this item is included in nep-ain, nep-cmp, nep-fdg and nep-rmg
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