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News Link • Robots and Artificial Intelligence

World Economic Forum: AI Could Cause Collapse Of Global Financial System

• https://www.technocracy.news by Will Knight

Artificial intelligence will reshape the world of finance over the next decade or so by automating investing and other services—but it could also introduce troubling systematic weaknesses and risks, according to a new report from the World Economic Forum (WEF).

Compiled through interviews with dozens of leading financial experts and industry leaders, the report concludes that artificial intelligence will disrupt the industry by allowing early adopters to outmaneuver competitors. It also suggests that the technology will create more convenient products for consumers, such as sophisticated tools for managing personal finances and investments.

But most notably, the report points to the potential for big financial institutions to build machine-learning-based services that live in the cloud and are accessed by other institutions.

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