Suomen Pankki

Bank of Finland and FIN-FSA hold seminar on ‘Impact of AI on Economy, Finance and Supervision’

Share

Artificial intelligence (AI) offers new opportunities for businesses and public authorities regarding the work they do and the way they do it. The use of AI also brings with it risks that need to be managed. On 13–14 November 2024, the Bank of Finland and the Financial Supervisory Authority (FIN-FSA) are holding a seminar to explore the impacts of AI on the economy, the financial sector and financial supervision.

“The AI and data revolution must be harnessed to improve Europe’s competitiveness and stability, as well as to enhance the resilience of the economy and financial system,” said Deputy Governor of the Bank of Finland Marja Nykänen in her opening remarks at the two-day seminar.

The event brings together representatives from the sector and from universities and public authorities to discuss practical AI applications and the opportunities and limitations of AI. The different speakers will look at the current situation as well as the outlook regarding future uses of AI. Speaking at the seminar will be Professor of Economics Anton Korinek from the University of Virginia and other top experts from both Finland and abroad.

The Bank of Finland and the FIN-FSA have a long tradition of using and analysing data. A shared project on the data economy is also in progress, and this is focusing especially on efficient data analysis using AI. “New technologies and large datasets promise new insights that can help drive forward our understanding of the functioning of our economy, and improve supervisory work,” Nykänen said.

AI will continue to be one tool among many, and decisions will still be made by people. “It is important to underline that AI is a virtual assistant, not a decision-maker. Indeed, human oversight and critical assessment are now more important than ever,” said the Deputy Governor.

You are welcome to watch the live stream of the seminar. The event will not be recorded for later viewing.

Programme

Keywords

Contacts

Ville VoutilainenSenior Data Science Economist

firstname.lastname@bof.fi

Tel:+358 9 183 2262

Links

Bank of Finland

The Bank of Finland is the national monetary authority and central bank of Finland. At the same time, it is also a part of the Eurosystem, which is responsible for monetary policy and other central bank tasks in the euro area and administers use of the world’s second largest currency – the euro.

Alternative languages

Subscribe to releases from Suomen Pankki

Subscribe to all the latest releases from Suomen Pankki by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Suomen Pankki

Hushållen investerade mer i investeringsfonder och aktier i september 202411.11.2024 10:00:00 EET | Pressmeddelande

I september 2024 gjorde hushållen mer teckningar än inlösen i finländska investeringsfonder[1]. Nya nettoinvesteringar gjordes för 190 miljoner euro. Sedan början av 2023 har investeringsbeloppet per månad varit positivt. I september gjordes mest nya investeringar i ränte- och aktiefonder, i båda till ett värde av nästan 85 miljoner euro. Av teckningarna i räntefonder gjordes merparten i korta räntefonder (till ett värde av 53 miljoner euro). Hushållens inlösen från fastighetsfonder har varit större än teckningarna nu 17 månader i följd. I september 2024 var emellertid nettobeloppet av hushållens inlösen från fastighetsfonder litet (–0,3 miljoner euro). Utöver nya investeringar ökade också värdet på de inhemska fondinnehaven i september, över 300 miljoner euro. Värdeökningen var störst i aktiefonderna (150 miljoner euro) och räntefonderna (95 miljoner euro). Vid slutet av september var hushållens investeringar i inhemska investeringsfonder större än någonsin (37,9 miljarder euro). Merp

In September 2024, households invested more in investment funds and equities11.11.2024 10:00:00 EET | Press release

In September 2024, households made more subscriptions in Finnish investment funds[1] than they redeemed from them. In net terms, the new investments amounted to EUR 190 million. Since the beginning of 2023, the monthly investment inflow has been positive. In September, the largest net investments were made in bond and equity funds, both reaching almost EUR 85 million. Most of the bond fund subscriptions were made in short-term bond funds (EUR 53 million). Households have now made net redemptions from real estate funds for 17 months in a row. However, in September 2024, the redemptions from real estate funds were low in net terms (EUR -0.3 million). In addition to new investments, the value of domestic investment fund holdings appreciated by EUR 300 million in September. In September, the largest appreciation took place in equity funds (EUR 150 million) and bond funds (EUR 95 million). At the end of September, households’ investments in domestic investment funds were at their all-time h

Syyskuussa 2024 kotitaloudet sijoittivat lisää sijoitusrahastoihin ja osakkeisiin11.11.2024 10:00:00 EET | Tiedote

Vuoden 2024 syyskuussa kotitaloudet tekivät enemmän merkintöjä kuin lunastuksia suomalaisiin sijoitusrahastoihin[1]. Nettomääräisesti uusia sijoituksia tehtiin 190 milj. euron edestä. Vuoden 2023 alusta lähtien kuukausittainen sijoitusmäärä on ollut positiivinen. Syyskuussa uusia sijoituksia tehtiin eniten korko- ja osakerahastoihin, molempiin lähes 85 milj. euron edestä. Korkorahastoihin tehdyistä merkinnöistä suurin osa (53 milj. euroa) tehtiin lyhyen koron rahastoihin. Kiinteistörahastoista kotitaloudet ovat tehneet lunastuksia enemmän kuin merkintöjä nyt 17 kuukautta putkeen. Syyskuussa 2024 lunastuksia kiinteistörahastoista tehtiin kuitenkin nettomääräisesti vähän (-0,3 milj. euroa). Uusien sijoitusten lisäksi myös kotimaisten rahasto-omistusten arvo kasvoi syyskuussa yli 300 milj. euroa. Syyskuussa arvo kasvoi eniten osakerahastoissa (150 milj. euroa) ja korkorahastoissa (95 milj. euroa). Syyskuun lopussa kotitalouksien sijoitukset kotimaisiin sijoitusrahastoihin oli kaikkien aik

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye