Mon. Jul 15th, 2024

MEPs and a panel of speakers will discuss the potential and limits of AI use in financial services, and on how to mitigate potential negative side-effects.

When: Thursday 1 July 13.45 – 15.45
Where: by videoconference

You can follow the webstreaming of the debate here.

The first panel of the event, hosted jointly by the Special Committee on Artificial Intelligence in a Digital Age (AIDA) and the Committee on Economic and Monetary Affairs (ECON) will feature interventions by EU financial regulatory bodies, with speakers from the European Commission, the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA). The second panel will focus on views from business, consumer organisations and civil society, with speakers from BNP-Paribas, NGO Better Finance, and the European Consumer Organisation (BEUC).

More information is available on the hearing draft programme.

Background

study from Parliament’s Research service highlights the intertwined relationship between AI and the financial sector. AI profoundly affects and transforms decision-making in financial markets and services. The process transforms the typical activities performed in these markets and allows for a new range of financial services, inducing innovations on transactions, assets and improving access to financial markets and services. Regulators worldwide have already noticed that the interaction between AI and the financial sector can have profound and important consequences, with opportunities but also specific risks.

Further information

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