“Areas of research respond to new challenges the Russian economy faces. One of the most pressing issues the researchers encounter is how artificial intelligence influences the economy and competition and making financial decisions,” the Central Bank said, News.az reports, citing TASS.
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The regulator is going to study the consequences of broad application of these methods for the economy and its structure, innovations and productivity, the labor market and inequality across households in terms of incomes. Furthermore, AI development changes financial markets and transforms the logic of decisions to be made by economic entities. “This generates new macroeconomic effects, including potential risks for financial stability,” the Bank of Russia noted.
“It is necessary to find the balance between government interference and market self-regulation in the sphere of AI use. Key areas of studies include the analysis of how AI transforms regulatory capabilities and constraints in different markets and for different kinds of services,” the regulator added.
