The World Alliance of International Financial Centers (WAIFC) announced the launch of a global artificial intelligence (AI) project to explore how the advanced technology is impacting the financial industry. It’s built around an in-depth AI survey, currently being completed by all WAIFC members, whose collective insights will serve as a foundation for identifying emerging trends, opportunities, and challenges related to AI adoption in financial markets.
The initiative is being coordinated by Philippe Richard, executive director at Abu Dhabi Global Market (ADGM), and is set to capture best practices from across financial centers, contributing to a shared understanding of how AI can shape the future of finance.
Beyond mapping the current state of AI implementation, the WAIFC AI Project aspires to foster international collaboration, highlight policy innovation, and support the responsible use of AI in finance.
“AI is now at the top of the agenda of most organizations and leaders,” said Richard in emailed commentary. “We realize that this wave of innovations and tools is already impacting the financial industry and even our way of thinking. So far much has been said at the firm or policies levels but not much from the financial centers perspective. This is where WAIFC has a role to play and why we have decided to have a deep dive in markets analysis , new risks and opportunities for our members. This collective brainstorming will consist in sharing experiences, insights, use cases, solutions and hopefully best practices. We have in mind a white paper with guidance and recommendations to be disclosed by year-end.”