The influence of artificial intelligence assistants -Part 2


Si Gyeongmin

Sep 22, 2021

It is also important to recognize that this speed may cause market volatility risks and prompt management to respond inefficiently. Even if the policies supporting artificial intelligence are still reasonable, any policy analysis does not take into account negative factors, which makes the reform may not include mechanisms for monitoring market fluctuations and provide safeguards.

Therefore, even if there is no well-thought out policy, artificial intelligence assistants will appear in one form or another. It is preferable to provide a broad legal and economic framework for these developments to promote perfect competition.

2. Redesign the regulatory structure

Regulators play an important role in managing the benefits and costs associated with the acceleration of the digital market. The regulatory framework currently depends to a large extent on the self-interest of artificial intelligence assistants to determine the trajectory they will follow. The Federal Trade Commission is responsible for the management of financial institutions, while the Federal Reserve Bank is responsible for consumer finance. These institutions pay more attention to micro-level markets and personal transactions, but they do not have the mission of macro-level stability. Because artificial intelligence assistants blur the micro and macro boundaries, adjustments to trade and banking regulatory agencies are needed.


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