Managing Technology in Finance: Global Approaches for the Digital Age
November 10, 2021
Accelerating digitalization and rapid technological advances are bringing new opportunities as well as risks to the world of finance. Personal data have become a key input and source of value across the global digital economy. These trends are intertwined technologically, together with advances in artificial intelligence and the development of cyber security infrastructure. But we are only beginning to understand many of the challenges. From the perspective of financial regulators, the key question is how to reap the benefits of technology in terms of financial inclusion, efficiency, risk management, and oversight, while managing the financial stability and integrity risks.
Three recent IMF publications find strong complementarities across these issues. They point to the need for adapting policy approaches and regulation to these new challenges, and to the need for enhanced cross-border cooperation to address risks that know no national boundaries. These papers propose global principles to guide on data governance, policy considerations for the use of artificial intelligence and machine learning (AI/ML) in finance, and recommendations for further work towards enhancing financial sector cyber-resilience.
Join our conversation with international experts in data finance, governance, and cyber risks on Wednesday, November 10, at 8:00 AM ET.
Moderator
- Bo Li, Deputy Managing Director, IMF
Panelists
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Catherine Batchelor, Director, Digital Markets Unit, Competition and Markets Authority, United Kingdom
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Ho Hern Shin, Deputy Managing Director, Monetary Authority of Singapore
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Robert B. Koopman, Chief Economist and Director, Economic Research and Statistics Division, World Trade Organization
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Anton Korinek, David M. Rubenstein Fellow, Brookings Institution; Professor, Department of Economics and Darden School of Business, University of Virginia; Economics of AI Lead, Centre for the Governance of AI; and Research Associate, NBER and CEPR
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Latha Reddy, Co-Chair, Global Commission on the Stability of Cyberspace
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