The enormous unwinding of liabilities, through de-leveraging is likely to result in a shake-up of the financial sector as a whole. Whether this will ultimately impact on the net worth of households and firms is as yet an open question.
In the digital era financial, economic and even social inclusion depend on technological inclusion. The effects of digital transformation have not fully emerged yet. It is still hard, at this stage, to foresee all the consequences of the application of artificial intelligence (AI), machine learning, and Big Data.