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.

翻译：本报告审视了人工智能在金融领域的应用，阐述了其彻底改变该行业的潜力，并识别了相关挑战。报告强调，全面理解人工智能及其能力和影响，对于有效发挥其潜力并降低相关风险至关重要。人工智能的潜力既体现在增强现有运营，也体现在为金融领域开辟全新应用场景。人工智能在金融领域的应用正在重塑这一行业，其使用范围涵盖客户服务优化、欺诈检测、风险管理、信用评估及高频交易等多个方面。然而，伴随这些益处，人工智能也带来了若干挑战，包括透明度、可解释性、公平性、问责制及可信度等问题。人工智能在金融领域的应用还引发了关于数据隐私与安全的关键问题。本报告指出的另一个问题是人工智能可能给金融领域带来的系统性风险。由于易于出错，人工智能可能加剧现有的系统性风险，甚至引发金融危机。在发挥人工智能优势的同时降低其潜在风险，监管至关重要。尽管全球已认识到这一需求，但在金融领域人工智能的使用方面仍缺乏清晰的指导方针或立法。本报告讨论了可指导金融领域有效人工智能监管的关键原则，包括采取基于风险的方法、纳入伦理考量，以及在创新与消费者保护之间保持平衡的重要性。报告为学术界、金融行业以及监管机构提供了建议。