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The assessment: artificial intelligence and financial services

Author

Listed:
  • David Bholat
  • Daniel Susskind

Abstract

This special issue of the Oxford Review of Economic Policy, based on papers presented at a Bank of England conference, explores the impact of artificial intelligence (AI) on financial services. This opening article provides an overview of AI and its increased use in the financial sector; considers the implications for consumers and competition in the sector; looks at the consequences for central bankers and regulators; and reflects on a more distant world where AI is far more advanced than today. In short, the effect of AI on financial services is likely to be transformative, but that impact remains complex and uncertain.

Suggested Citation

  • David Bholat & Daniel Susskind, 2021. "The assessment: artificial intelligence and financial services," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 37(3), pages 417-434.
    • Handle: RePEc:oup:oxford:v:37:y:2021:i:3:p:417-434.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grab015
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    Cited by:

    1. Karolis Liaudinskas, 2022. "Human vs. Machine: Disposition Effect among Algorithmic and Human Day Traders," Working Paper 2022/6, Norges Bank.
    2. Emily Jones & Christopher Adam, 2023. "New frontiers of trade and trade policy: digitalization and climate change," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 39(1), pages 1-11.

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