As financial services firms increasingly turn to artificial intelligence technology to create efficiencies and get an edge over their competition there are a number of risks and fears that come with adoption of cutting edge technology. A report from the Financial Stability Board at the end of last year raised concerns regarding the use of artificial intelligence in banking, specifically of the technology triggering financial stability risks. It also raised concerns that: "The lack of interpretability or auditability of AI and machine learning methods could become a macro-level risk. Similarly, a widespread use of opaque models may result in unintended consequences." The international body also warned that replacing people with AI "has the potential to amplify financial shocks".

https://www.computerworlduk.com/data/barclays-on-four-biggest-risks-ai-poses-banking-3674108/