ECB’s Escrivá Says AI Risks Prompt Finance Infrastructure Review

Central banks must review the resilience of financial infrastructure given the rise of artificial intelligence, as well as defend their role as the ultimate guarantor against risks posed by stablecoins, said European Central Bank Governing Council member José Luis Escrivá.

“Recent developments in artificial intelligence force us to reassess the robustness of our financial infrastructure and our cybersecurity,” Escrivá, who’s also Bank of Spain governor, said at an event in Tarragona on Saturday.