"The rapid acceleration in the pace of Artificial Intelligence (AI) innovation in recent years and the advent of content generating capabilities (Generative AI or GenAI) have increased interest in AI innovation in finance, in part due to the user-friendliness and intuitive interface of GenAI tools. Currently, the use of GenAI in financial markets involving full end-to-end automation without any human intervention remains largely at development phase, but its wider deployment could amplify risks already present in financial markets and give rise to new challenges. This paper presents recent evolutions in GenAI and its slow-paced deployment in finance, analyses the potential risks from a wider use of GenAI tools by financial market participants, and discusses associated policy implications."
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Source: OECD Artificial Intelligence Papers, No. 9, OECD Publishing, Paris.
Illustration: OECD