Europe Must Develop Own AI: ECB's Lagarde

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Europe must develop its own capacity in the field of renewable energy so it doesn't look like there is "rofa that is managed elsewhere", Christine Lagarde, president of the European Central Bank (ECB), said on Friday. Þróun fullkomnustu gervigreinðarlíkananna is now "private in the United States and China", Lagarde said at the tíundu árlegu konferonci Evrópska kerfisáhreðráðsins (ESRB). It raised the question of how each controllable access to t…

France24

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The development of the most advanced AI models is now "concentrated in the United States and China", which "relevates the issue of controlling access to technologies on which the European financial institutions could become highly dependent", stressed the first guardian of the euro at a conference at the ECB. Without naming them, it referred to the American models of the ChatGPT type of OpenAI, Gemini by Google, Claude d'Anthropic, Grok de xAI, …

Anadolu Ajansı

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Lagarde notes that 9 out of 10 significant euro area banks already use generative AI, while 70% of EU securities market firms plan to increase investments in technology

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The President of the European Central Bank (ECB), Christine Lagarde, warned this Thursday about the risks that the advance of artificial intelligence (AI) can pose to financial stability, highlighting the potential of technology to amplify shocks in markets, increase cyber vulnerabilities and create new systemic risks. She spoke at the opening of the annual conference of the European Systemic Risk Committee (ESRB) in Frankfurt, Germany, and did …

ANSA

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Artificial intelligence poses risks to "financial stability," which makes it necessary for Europe to develop its own capabilities and to be an indispensable component of the supply chain." (ANSA)