[论文解读] The AI Revolution: Opportunities and Challenges for the Finance Sector

Carsten Maple, Łukasz Szpruch+8 more|arXiv (Cornell University)|Aug 31, 2023

Insurance and Financial Risk Management被引用 37

一句话总结

论文综述 AI 如何改变金融领域，概述运营中的机会和新应用，并讨论挑战，包括治理、伦理和监管。

ABSTRACT

This report examines Artificial Intelligence (AI) in the financial sector, outlining its potential to revolutionise the industry and identify its challenges. It underscores the criticality of a well-rounded understanding of AI, its capabilities, and its implications to effectively leverage its potential while mitigating associated risks. The potential of AI potential extends from augmenting existing operations to paving the way for novel applications in the finance sector. The application of AI in the financial sector is transforming the industry. Its use spans areas from customer service enhancements, fraud detection, and risk management to credit assessments and high-frequency trading. However, along with these benefits, AI also presents several challenges. These include issues related to transparency, interpretability, fairness, accountability, and trustworthiness. The use of AI in the financial sector further raises critical questions about data privacy and security. A further issue identified in this report is the systemic risk that AI can introduce to the financial sector. Being prone to errors, AI can exacerbate existing systemic risks, potentially leading to financial crises. Regulation is crucial to harnessing the benefits of AI while mitigating its potential risks. Despite the global recognition of this need, there remains a lack of clear guidelines or legislation for AI use in finance. This report discusses key principles that could guide the formation of effective AI regulation in the financial sector, including the need for a risk-based approach, the inclusion of ethical considerations, and the importance of maintaining a balance between innovation and consumer protection. The report provides recommendations for academia, the finance industry, and regulators.

研究动机与目标

• 促使理解 AI 能力及其对金融的影响。
• 识别 AI 如何增强现有金融业务运营并实现新的应用。
• 强调治理、风险和监管方面的考量，以减轻 AI 相关风险。
• 讨论金融领域 AI 使用中的数据隐私、安全性和可信度等问题。
• 为学术界、行业和监管机构在金融领域负责任地采用 AI 提供建议。

提出的方法

• 基于文献的分析，涵盖金融领域 AI 应用在客户服务、欺诈检测、风险管理、信用评估和高频交易等方面。
• 讨论与透明度、可解释性、公平性、问责性和可信度相关的挑战。

实验结果

研究问题

• RQ1 AI 可以改变金融服务的潜在应用领域有哪些？
• RQ2 在金融领域安全部署 AI 需要哪些治理、伦理和监管方面的考量？
• RQ3 在金融领域采用 AI 时伴随的风险有哪些，包括数据隐私、安全性和系统性风险？
• RQ4 哪些原则和建议可以指导 AI 在金融领域的监管与利益相关者合作？

主要发现

• AI 可以增强运营并在多个领域实现新的金融应用。
• 重要挑战包括 AI 系统的透明度、可解释性、公平性、问责性和可信度。
• 数据隐私和安全性是金融 AI 部署中的关键关注点。
• 若监管不当，AI 可能促成系统性金融风险。
• 需要监管，但现有准则不清或缺失，需以原则导向的方法。
• 本报告为学术界、行业和监管机构提供在把握利益同时降低风险的建议。