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Introduction [Digital finance in the EU : navigating new technological trends and the AI revolution]
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Lorenzo MORETTI, Laura RINALDI and Pierre SCHLOSSER (eds), Digital finance in the EU : navigating new technological trends and the AI revolution, Florence : European University Institute, 2024, pp. VIII-X
[Florence School of Banking and Finance]; EU Supervisory Digital Finance Academy (EU-SDFA)
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MORETTI, Lorenzo, Introduction [Digital finance in the EU : navigating new technological trends and the AI revolution], in Lorenzo MORETTI, Laura RINALDI and Pierre SCHLOSSER (eds), Digital finance in the EU : navigating new technological trends and the AI revolution, Florence : European University Institute, 2024, pp. VIII-X, [Florence School of Banking and Finance], EU Supervisory Digital Finance Academy (EU-SDFA) - https://hdl.handle.net/1814/77927
Abstract
In recent years the financial sector has witnessed a surge in the implementation of AI-based solutions and tools. This rapid escalation in conjunction with the emergence of generative capabilities mirrors the broader economic landscape, in which AI innovation is gaining significant traction at an unprecedented scale. This has led to substantial investments and heightened user expectations. While the implementation of AI-based solutions in the financial sector has primarily focused on support functions, there is growing recognition of its potential to expand into new domains in the near future. This expansion is accompanied by significant benefits but also the emergence of new risks, which make it necessary for regulatory and supervisory authorities to enhance their capacity to address these challenges. This e-book takes stock of the second year of one of the most ambitious and transformative technical support projects launched by the European Commission (DG REFORM) in the financial sector and access to finance policy domain: the EU Supervisory Digital Finance Academy (EU-SDFA). In the past two years the EU-SDFA has rapidly established itself as a renowned entity in the landscape of capacity-building activities for financial supervisory authorities. It is a unique cross-sectoral EU-wide initiative that aims to overcome sectoral barriers, foster a common culture and understanding of digital finance issues and build an inclusive community of financial sector experts capable of managing the disruptive challenges of digitalisation.