Artificial intelligence technology, which continues to develop and gain new skills, also gives rise to new risks. Incessant concerns and warnings about the issue are frequently brought to the agenda. A new warning that closely concerns the financial sector is important for the future of the technology world. Here are the details
The risks posed by artificial intelligence have spread to the world of finance!
The ongoing development of artificial intelligence models and machine learning algorithms at an uncontrolled pace has also attracted the attention of the Bank of England. The bank made some warnings about the risks that technology may cause on financial stability.
Emphasizing that the accelerated development in this field should be followed carefully, the bank published an important statement on the subject. It was stated that the increase in data accessibility capabilities of these advancements and the resulting decrease in computing power costs led the sector to some illegal activities.
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Fraud and money laundering activities, which have increased with the widespread use of artificial intelligence technology, continue to constitute an important risk factor worldwide. Stating that the spread of the black money market will deeply affect financial stability, bank officials emphasized that some regulations and limitations are essential.
So, what do you think about this situation? Do you think that black money activities, which have become widespread with this rapid development, can be prevented? You can share your opinions and predictions with us in the comments section.