In a lunch keynote at the Seventh Annual Volatility and Risk Institute Conference, BWC Chair Bill Dudley discusses how artificial intelligence will transform the financial sector. He notes that risks of accuracy, privacy, and model convergence will need to be addressed. According to him, AI will both create and replace jobs. These changes will take time because AI must be regulated, companies will need to rethink how they operate, and a major macroeconomic challenge will arise: a massive investment boost followed by an investment bust. Bill Dudley also highlighted use cases of AI in the financial sector, noting the work carried out by the Bretton Woods Committee through the publication of a series of articles on this topic.

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All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.