Artificial Intelligence modifies the previously existing links between entities operating on the financial markets, introduces new competition rules, and plays an increasingly important role. Its potential poses a major challenge for the financial system.
The global economy is slowing down, largely due to a widespread sense of uncertainty, the main source of which is the continuing US-Chinese trade war. According to the IMF about 70 per cent of the global economy will experience a slowdown this year.
In the Global Financial Stability Report the IMF examines the evolution of financial markets since the recent financial crisis and points to the buildup of downside risks in various segments of the financial market.
Fintech companies have made considerable progress in promoting financial inclusion through new business models and products. Incomplete or inadequate access to financial services is a problem faced by a large part of the population around the world.
For the first time, the Bank for International Settlements in its annual report has devoted a special chapter to cryptocurrencies. The BIS indicates that cryptocurrency technology cannot become a substitute for the existing solutions in the scope of issuing money.