The impact of technology on finance: A new eBook by Darrell Duffie, Thierry Foucault, Laura Veldkamp, Xavier Vives published by VOXEU (5/2022)
Recent cutting-edge technologies such as machine learning and artificial intelligence, as well as the expansion of FinTech and BigTech companies into finance, have accelerated the digitalisation of financial services. The fourth report in the The Future of Banking series from the IESE Business School and CEPR focuses on three aspects: (i) the disruption of payment systems due to the emergence of digital currencies, with a particular focus on central bank digital currency; (ii) the benefits and risks of the use of massive data for the provision of financial services; and (iii) the electronification of securities trading and its effect on trading costs and market quality.
