Rodrigo Buenaventura, president of the National Stock Market Commission (CNMV) in Spain, shared in the middle of the meeting ‘Responsible Leaders’ organized by the Seres Foundation, their perspectives on the effects of the development of artificial intelligence, and mentioned that it is still too early to know its impact, since, In his opinion, it is a technology “very disruptive” whose adaptation time until its massive adoption and full development “It is long”.
However, Buenaventura also highlighted that AI is not exactly a new technology, especially in the stock markets, since according to him, more than 50% of the executions that are currently made on the stock market “It is decided by machines with autonomy”and not a human. “What happens is that the algorithms we have are not as sophisticated as those we are beginning to see in other areas”Bonaventure explained.
On the other hand, according to reviewed by the OKdiario portal, Buenaventura stated that Among the risks of this technology, there is a possibility of disorderly movements, herd behavior, and possible manipulation by noise-generating algorithms. In this sense, he also stated that there are “advantages” such as costs, improved decision-making and employment in the field of supervision, where it can be used to detect misconduct.
Finally, In relation to cryptocurrencies, Buenaventura was once again emphatic in declaring that he is not a big fan of them, but that, on the other hand, the CNMV is a fan of DLT technologies.
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