The spring meetings of the International Monetary Fund (IMF) and the World Bank (BM) started this Monday at a time when the attention is focused on the commercial war initiated by the Donald Trump government or the macroeconomic implications or for the financial markets that bring the growth of artificial intelligence (AI).
The focus of the World Economy Perspectives (Weo) that the IMF publishes on Tuesday will be put on the potential effects that the application of US tariffs can have on its commercial partners and reprisals that China has activated in turn.
Both the IMF managing director, Kristalina Georgieva, and the president of the BM, Ajay Banga, already warned in previous days that the uncertainty and current volatility will decelerate the growth of the global gross domestic product (GDP) and that they consider fundamental to collaborate to quickly reach agreements and to establish lighter rules for world trade.
Georgieva, who in any case pointed out that at the moment the organism he directs does not anticipate a global recession, spoke last week in his speech of “huge” uncertainty about global trade and “an erosion of confidence” that urges recovering in order for the application of tariffs and their effects not to last over time.
As has been done in recent reports, studies are expected that the IMF and BM will publish during spring meetings again analyze the potential impacts of the growing use of AI. These meetings will last until Saturday in Washington.
The IMF today welcomed a panel organized jointly with the International Organization of Securities Commissions (iOSco) focused on this technology and entitled ´Tendences in artificial intelligence and implications for financial stability´.
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“We have already seen large -scale applications of automatic learning models for finance, but the (new generation technology, the generative AI, once again presents new forms of innovation that can have many benefits, increase efficiency and help with better supervision and regulation, although they also present new and important vulnerabilities,” said the Vice -Director Manager of the IMF, Gita Gopinath.
All participants agreed on the speed of adoption of generative by financial signatures and in which there will be no reversal, to the point that the CEO of the British Financial Behavior Authority (FCA), Nikhil Rathi, stressed that in fact there are risks for those who “choose not to display these resources” in the day to day.
Apart from highlighting the risks of the markets that organized crime increasingly uses the generative AI, the deputy director of capital markets of the monetary authority of Singapore, Tuang Lee Lim, stressed the importance of financiers to make good inventories on the AI systems that they use to establish well the interdependencies between the different signatures in this field.
The Deputy Minister of International Affairs of the Financial Services Agency (FSA) of Japan, Shigeru Ariizumi, emphasized the importance of the public and private sectors cooperating to establish good practices and governance.
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In turn, the Director General of Market Analysis and Regulatory Structures of Citadel Securities, Gregg E. Berman, urged to “demystify” the use of AI because the learning of machines has already been used for decades in finances and therefore it is convenient to look at the regulations that “have worked” for technologies prior to generative language models.
With EFE information
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