AI and Finance: A Rising New Systematic Risk?

Artificial intelligence (AI), born in 1956, experienced a major revival in 2012 with «deep learning», which simulates certain functions of the human brain. This technology is starting to compete with professions like radiology, but it will take until 2030 to see a truly contextual and versatile AI. AI is growing at an exponential rate, affecting not only manufacturing but also the intangible sectors such as banking and insurance. It creates high barriers to entry and reinforces the hegemony of the US and China, marginalizing Europe. This revolution is likely to accentuate inequalities, with an impact similar to that of the IQ on wages. It also raises ethical issues, particularly on data management, regulated by the GDPR. Faced with these challenges, France, ill-prepared, exports its AI talents while remaining dependent on foreign technologies. Mutualism and cooperation, based on principles of solidarity and decentralization, can play a crucial role in the ethical regulation of AI. French companies must act quickly so as not to fall behind in this technological race.