Core Viewpoint - The speech emphasizes the need to reshape financial risk governance from a focus on risk prevention to promoting innovation in the context of digital intelligence transformation [1] Group 1: Traditional Financial Risk Governance - Traditional financial risk governance relies heavily on structured data such as balance sheets and income statements, which have limitations as the industry evolves [1] - The introduction of unstructured data like images has not sufficiently addressed the challenges posed by digital enterprises utilizing blockchain and big data technologies [1] Group 2: New Characteristics of Financial Risk - Financial risk is becoming "black-boxed," making it difficult to understand the essence of risks due to reliance on algorithms and platforms without adequate expertise [2] - The combination of algorithms and high-volume trading leads to "flash crash" risks, where rapid transactions can occur faster than traditional risk management can respond [2] - Risks are now "contagious," spreading quickly across different sectors and participants due to the interconnected nature of digital finance [3] - The mechanism of risk transmission is fundamentally changing, with risks now able to suddenly spread through platforms, complicating regulatory oversight [3] Group 3: Responses to New Challenges - There is a need to advance the digital transformation of the regulatory framework to keep pace with the integration of blockchain and AI in financial activities [4] - Establishing a collaborative data-sharing mechanism is essential to enhance regulatory effectiveness and avoid resource wastage [4] - An algorithmic explainability mechanism is crucial for transparency, requiring innovators to articulate algorithms in a way that is understandable to ordinary investors [4] - The balance between risk prevention and innovation promotion can be achieved through digital regulatory transformation and transparent algorithms [4]

金融业迎来边际巨变还是系统性重塑？ 近日，2025外滩年会在上海召开，本届年会主题为"拥抱变局：新秩序·新科技"。会议期间，围绕人工 智能（AI）的圆桌论坛成为焦点，包括智能跃迁：AI的宏观经济含义、金融领域的AI治理与国际合 作、未来人工智能的变革图景、AI对劳动力市场的影响等议题，吸引全球财经政要、机构高管及学界 领袖，共同探讨AI技术的机遇、风险与治理路径。 AI发展：边际进步还是行业重塑 当下，AI正在深刻改变工业和日常生活，但究竟是"边际性工具进步"，还是像蒸汽机、电力一样带来根 本性行业重塑，是学界与产业界关注的核心问题。 对于AI是否会引发泡沫，哈佛大学教授、美国白宫经济顾问委员会原主席杰森·福尔曼（Jason Furman） 表示："我实际上会押注泡沫不会出现。"福尔曼认为，即便存在泡沫，也更类似2000年的互联网泡沫， 而非2007年的房地产泡沫或金融危机，因为"并不存在一大笔资金被用作整个银行体系的抵押品，而且 人工智能是真正的创新"。 中国人民银行原行长周小川则从金融视角分析，AI在信息处理、IT和自动化基础上的应用，是"又一次 边际变化"，但这一边际变化意义重大。他回顾银行业历史，指出 ...