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BIS says financial services are most exposed to benefits of AI – but also to risks

Graphic: The Bank for International Settlements
Carmen Cracknell profile image

Carmen Cracknell

2 min read

BIS says strong supervisory scrutiny and implementation of reforms needed to enhance system resilience.

The Bank for International Settlements (BIS) says the financial sector is among the most exposed to the benefits but also to the risks of AI. Benefits include improvements for lending and payments, while risks include more sophisticated cyber attacks, herding, runs, and fire sales.

The BIS Annual Economic Report 2024 summarized

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