Transition to AI-augmented decision-making in financial supervision. Case study in Qatar Financial Centre Regulatory Authority
Loading...
URL
Journal Title
Journal ISSN
Volume Title
School of Business |
Master's thesis
Unless otherwise stated, all rights belong to the author. You may download, display and print this publication for Your own personal use. Commercial use is prohibited.
Authors
Date
2024
Department
Major/Subject
Mcode
Degree programme
Business analytics
Language
en
Pages
87
Series
Abstract
This thesis explores the transformative impact of Artificial Intelligence (AI) in financial supervision, focusing on the Qatar Financial Centre Regulatory Authority (QFCRA) as a case study. As AI technologies become increasingly integrated into financial systems, the nature of knowledge work within financial supervision undergoes significant evolution, presenting both opportunities and challenges. Traditional methods of regulatory monitoring, though effective, are resource-intensive and may overlook emerging risks in the complex financial landscape. Regulators can improve their monitoring skills by utilising AI's capacity to handle massive volumes of data, find pertinent information, provide predictive analytics, and recognise patterns. Key questions addressed include the implications of AI integration on knowledge work, the optimal division of tasks between humans and AI systems to maintain decision quality, and the challenges in ensuring optimal human capital for AI-augmented work. A comprehensive framework for managing this transition and fostering a symbiotic relationship between AI and human expertise is essential. The thesis uses a mixed-methods approach, integrating an empirical investigation that includes industry professional interviews with a survey of the literature. The results show how AI augmentation may be used in financial supervision and point up important problems for future policy formulation. The paper ends with suggestions for QFCRA and international financial authorities, highlighting the significance of AI and supervision technology practices and the necessity of continued research in this rapidly evolving subject.Description
Thesis advisor
Vilkkumaa, EevaKeywords
AI, financial supervision, AI-augmentation, FinTech