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Items tagged with "AI"

Shenzhen Granted Autonomy over Data and AI

Shenzhen, China’s southern metropolis, is named after the rice paddy drains, or ‘zhen’, that once stretched across the landscape. Today, where mere decades ago sat a small fishing village, Shenzhen is a city of over 11 million inhabitants, known as China’s answer to Silicon Valley.

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UK launches AI Forum

What do your mortgage, your car, and maybe even your fridge have in common? They are all either already or could soon be reliant on AI and machine-learning (ML) algorithms.

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How to Audit AI

Technology is changing the world of audit. From the systems auditors rely on to improve the accuracy of their audits, to the data (soon to include, under ESEF, XBRL tagging) that requires review, tomorrows’ auditors must know how to work digitally.

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Leveraging Technology to support supervision

In a recent speech Benoît Cœuré, Head of the Bank for International Settlements (BIS) Innovation Hub, asked the listener to imagine a world where regulators have access to big data sets of high granularity, diversity, and frequency.

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IOSCO consult on AI

AI and machine learning (ML) are playing an ever-growing role in financial markets around the world – and while these new technologies can reduce costs and increase speed for firms and investors, they also come with an element of risk.

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Eurofiling: XBRL Data feeds Explainable AI Models

Amongst several fascinating presentations at the Eurofiling Innovation Day this week was an interesting demonstration on how XBRL reports can be used as the basis of explainable AI for bankruptcy prediction.

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How to handle Big Data

Central banks and national statistical offices have increasingly been looking to big data sets and analytics to provide new insights – but managing data of this magnitude requires new data platforms. This week a Bank for International Settlements (BIS) report breaks down how best to deal with big data. Novel big data sets – such […]

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How can XBRL and AI work together? 

XBRL is now the standard for financial reporting, providing machine-readable data with vastly improved accuracy and quality to regulators worldwide. With significant amounts of structured data increasingly available, how can AI be used to turn that information into insight? While some AI programmes are designed to be able to deal with data that is unstructured, […]

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An AI Regulatory Roadmap

A recent Centre for Finance Technology and Entrepreneurship (CFTE) paper develops a regulatory roadmap for addressing the increasing role of AI in finance, focusing on how human involvement can deal with ‘black box’ issues. The paper identifies three regulatory challenges from AI in finance. Firstly, AI algorithms increase information asymmetries between various users and developers. […]

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European Commission launches New Data Strategy

This month the European Commission launched Europe’s ambitious new data strategy with a flurry of documents and two new consultations. Over the next five years the EU plans to create a single market for data that complements the common economic market ensuring that data should be able to flow across countries and sectors within the […]

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