Banks must understand artificial intelligence – ECB official
Artificial intelligence must not become another “financial craze”, Hakkarainen warns
Financial technology “offers more opportunities than threats” to Europe’s banking sector, said Pentti Hakkarainen, a member of the European Central Bank’s supervisory board in a speech in Lisbon.
“Yes, there will be disruption – and some firms that can’t keep up will lose a role and will exit the market,” Hakkarainen said on June 6. “However, this disruption to bank business models will in the end work in the interest of customers.”
“Perhaps the most promising upcoming technology that banks
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