CoinVoice has recently learned that, according to Jinshi reports, Xiao Gang, the former chairman of the China Securities Regulatory Commission, stated at the 'AI + Finance' summit of the National Wealth Development Research Cooperation Platform on December 22 that artificial intelligence is a 'double-edged sword.' On one hand, it has led a new round of technological and industrial revolutions, profoundly changing social production and life, as well as fundamentally altering the patterns and models of the financial industry; on the other hand, it has also created various risks and challenges.
From the perspective of intelligent finance, Xiao Gang believes that artificial intelligence has greatly improved the ability of financial institutions to identify, warn, and control risks, but it has not dispersed or eliminated financial risks. Therefore, the essence of intelligent finance is still finance, and it must follow the basic laws of finance. To strengthen the governance of financial AI algorithms and models, Xiao Gang believes that a governance framework for algorithm models should be established, where laws and regulations are at the top level, and this framework should also include objectives, organizations, tasks, and ecology. [Original link]