68th Economic Conference (Day 2, November 16, 2024)

As we stand at the cusp of potentially transformative advances in big data, machine learning, and generative artificial intelligence, it is imperative that we explore the important questions about how technology will influence finance in the years ahead: What are the new financial services that have been – and will be – enabled by these technologies? Will these technologies change the delivery of financial services such that, for example, they are increasingly provided by nontraditional intermediaries and are more accessible to underserved consumers and communities? And to what extent will such changes make the financial system more efficient and resilient as well as more equitable? While a greater volume of data can improve the efficiency and security of financial services, it can also jeopardize the privacy of information and lead to less equitable access to those services. New technologies can enhance efficiency, but they can also increase market power. This conference brings together researchers, regulators, supervisors, and industry practitioners to review past lessons and preview the future of finance and the opportunities and challenges being raised by the current wave of new technologies.

VIDEO CONTENTS

00:00:00 Panel 2: How Can Technology Make Regulation and Supervision Smarter and Regulators More Efficient?
01:37:59 Paper Session 4: Big Tech, Monetary Policy and the Future of the Financial System
02:45:35 Closing Remarks

AGENDA

Saturday, AM, November 16, 2024

Panel 2: How Can Technology Make Regulation and Supervision Smarter and Regulators More Efficient?

Panelists:

Slavka Eley
Head of Governance and Coordination
European Labour Authority

Jermy Prenio
Principal Advisor, Financial Stability Institute
Bank for International Settlements

Lawrence J. White
Robert Kavesh Professor of Economics
Stern School of Business, New York University

Moderator:

Eric S. Rosengren
Former President and CEO
Federal Reserve Bank of Boston

Paper Session 4: Big Tech, Monetary Policy and the Future of the Financial System

Author:

Fiorella De Fiore
Research Adviser, Bank for International Settlements
Research Fellow, Centre for Economic Policy Research

Discussant:

Andrew Levin
Professor of Economics
Dartmouth College

Moderator:

Jenny Tang
Vice President and Economist, Research Department
Federal Reserve Bank of Boston

Closing Remarks

Susan M. Collins
President and Chief Executive Officer
Federal Reserve Bank of Boston