Source: Diritto Bancario

Diritto Bancario reports on the Bank of Italy’s recent intervention regarding the increasing use of artificial intelligence in the financial sector. In a speech delivered on February 15, 2025, the Bank highlighted both the transformative potential and the inherent risks of AI in banking and finance.

The Bank of Italy stressed that while AI can enhance efficiency, risk management, and customer service, it also introduces concerns about algorithmic bias, data privacy, and systemic risks. Regulators are particularly focused on ensuring transparency in AI decision-making processes and the need for human oversight in critical financial operations.

The Bank called for the development of robust regulatory frameworks to oversee the ethical use of AI in finance, emphasizing the importance of balancing innovation with financial stability and consumer protection. Legal experts noted that this intervention could influence future European Union regulations on AI in the financial sector.