 "Blind adoption of new fintech could have an adverse impact: RBI ED")
While new technologies such as artificial intelligence and block chain bring much benefit in the financial sector a blind adoption of technological innovation without understanding its biases and limitations could be counterproductive, said Ajay K Choudhary, executive director (ED) of Reserve Bank of India.
“The new tech such as artificial intelligence, block chain, quantum computing, big data, analytics, 5G, all of them bring a lot of benefit. However, they also bring some significant potential for disruption in the future of finance,” he said.
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