TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda claimed on Thursday reserve banks should be conscious that technical breakthroughs, such as in the location of expert system (AI), can bring brand-new dangers to economic security.
“As financial services grow more diverse and complex, the channels of risk transmission have become less transparent, and current financial regulations may not be fully equipped to manage new types of financial services,” Ueda claimed.
“This environment underscores the need for operational resilience, including robust management of cybersecurity and third-party risks,” he claimed in a speech at the Paris Europlace Financial Forum in Tokyo.
(Reporting by Leika Kihara and Makiko Yamazaki; Editing by Kim Coghill)
