5 And, as we all know, advanced-economy demand for imports in recent years has been lackluster. Real goods imports in the United States, Japan, and the euro area have all increased at an average annual pace of about 3-1/2 percent over the past three years, in all cases about half the average pace recorded in the two decades leading up to the financial crisis.
These are judgments that can be informed by the types of computations performed by computers, but ultimately they cannot be made by computers. Risk management, reserving policy and underwriting larger C&I loans are, it appears, areas in which technology is an important adjunct to the judgment of experienced managers but ultimately is not a replacement for the experience a banker brings to the undertaking.