The wide availability of AI’s building blocks means that phishers and fraudsters have access to best-in-class technologies to build AI tools that are powerful and adaptable. Supervised institutions will likely need tools that are just as powerful and adaptable as the threats that they are designed to face, which likely entails some degree of opacity.
In addition, several central banks – including the ECB – have also adjusted their monetary policy stance to take into account the impact of the financial market turbulences on inflation and real activity.