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Technological innovation: small steps and giant leaps

· Agustín Carstens, General Manager of the Bank for International Settlements (International)

Summary written by Dark Majestic in its own words · topics: growth, investment and productivity, technology, ai and cyber risk

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· Agustín Carstens Wiki · Bank for International Settlements WikiTechnological innovation: small steps and giant leaps

ContextWelcome speech at the fourth BIS Innovation Summit in Basel; the BIS serves central banks worldwide and promotes technological innovation in finance.

Why it mattersCarstens calls for both incremental fixes and bold redesigns of financial architecture.

Problems raised
  1. Innovation lacks a coherent vision.
  2. Technology alone is not enough.
  3. Governance and rules must keep up.
Solutions proposed
  1. Combine small improvements and giant leaps.
  2. Build efficient financial architecture.
  3. Strengthen governance and regulation.
Read full speech on bis.org ↗

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