Add to Favourites
To login click here
The International Monetary Fund’s recent Report on the adoption of GenAI in the financial services industry provides an insight into the key risks that industry participants may face when interacting with GenAI. The Report concludes that GenAI technology has “great promise” in the financial sector, but that risks intrinsic to GenAI could damage the reputation and soundness of the sector. The Report explores potential risks of GenAI in the financial services industry through 4 key categories: (1) inherent technology risk; (2) performance risk; (3) cybersecurity threats; and (4) financial stability risk.