Blind adoption of new financial technology without proper understanding may have a negative impact: RBI ED

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New Delhi: Ajay K. Choudhary, Executive Director (ED) of the Reserve Bank of India notes that while new technologies such as artificial intelligence and blockchain are very beneficial to the financial sector, blind adoption of technological innovation without understanding its biases and limitations can be. It backfires.

“New technology like artificial intelligence, blockchain, quantum computing, big data, analytics, and 5G are all bringing a lot of benefits. However, they also bring some great potential to disrupt the future of finance.



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