Given their high reliance in providing investment recommendations and managing portfolios the risks these services present should not be underestimated. As a forward looking supervisor, the Central Bank has to ensure the risks are mitigated with firms having strong internal governance arrangements and oversight of the algorithms, ensuring their transparency, accuracy and robustness.
The pandemic is also accelerating growth in other technology services. Doctors and hospitals are finding new ways to use technology to provide health care 4 W. Steingress, “The Causal Impact of Migration on US Trade: Evidence from Political  Refugees,” Canadian Journal of Economics 51, no. 4 (October 2018): 1312–1338.