The mobilization of Big data and their treatment by artificial intelligence (AI) are now a central issue for the financial sector and the economy. Their impact is expected to intensify further in the coming years, affecting both the global economy and financial markets.

Japan, which has been at the forefront of the development of digital finance (in particular through the emergence of cryptocurrencies and their regulation), is no exception to this dynamic. At the same time, the current digital finance trend highlights the dominance of the United States and China in financial development and digitization. This development raises questions about the future of financial and economic systems in the digital age, not only in Japan but also in Europe.

More specifically, this trend allows financial market players to exploit new types of data — such as text and images — that were previously unexplored. This could improve the efficiency of markets, provided that the information processed is not noisy.

However, the growing dependence on AI algorithms can also pose risks to market stability, in particular through the phenomena of correlated algorithms or algorithmic collusion. It is also essential to take into account the environmental impact of AI in this context. Moreover, the use of AI could lead to significant macroeconomic effects.

Productivity gains linked to AI are expected in the manufacturing industry (for example, via AI coupled with robotics) and, notably, in services (such as information technology, publishing, etc.).

In particular, the adoption of AI could redefine competitiveness and encourage the exchange of services more than goods. However, there is still limited data on its potential effects on employment: to what extent and in what sectors will AI replace rather than support human workers? And will it mainly affect low-skilled jobs or high-skilled jobs?

Taken together, the macroeconomic effects of AI could have long-term implications for potential growth, inflation, and therefore monetary policy.

It is in this perspective that the Bank of France — Fondation France-Japon Joint Lab aims to bring together leading researchers from academia, central banks and financial institutions in order to present research on these themes. This collaboration aims to offer a broader vision of current trends, as well as concrete results and practical recommendations.

The workshop is supported by the Bank of France — Fondation France-Japon Lab, the Bank of Japan, the Canon Institute for Global Studies (CIGS), the Japanese Embassy in France, and the French Embassy in Japan.

More information about the program hither

Very limited number of in-person seats.

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Address of the event: Banque de France — 31 rue Croix des Petits Champs 75001, Paris

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