So please forgive me for concluding with the typical remark of a central banker: “There are opportunities. And there are also risks”. While harbouring enormous possibilities, digital transformation also poses quite substantial challenges. In particular, it reshapes the financial system in a way we still do not fully comprehend. This throws up new kinds of questions that require new answers.
All of you know that there has been a fair amount of public debate in recent years about the health of the economics profession, prompted in part by the failure of many economists to comprehend the dire threats and foresee the damage of the financial crisis.