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Regulators took a beating in 2023. Why AI will be their next challenge

Top watchdogs are worried about the growing influence of the technology in finance

Can regulators allow AI to flourish without major risks?
Can regulators allow AI to flourish without major risks? Photo: Mike Kemp/Getty Images

This time last year, global regulators could hardly have predicted the omnicrisis about to unfold. Had they known the chaos in geopolitics and markets that would rock 2023, they might have had a sleepless Christmas. 

Supervisors have overseen everything from the collapse of Credit Suisse to greenwashing scandals, cyber attacks, a near-collapse in Chinese real estate, global money-laundering and crypto fraud.

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