THE TRANSFORMING IMPACT OF ARTIFICIAL INTELLIGENCE ON THE FUNCTIONING PARADIGM OF THE GLOBAL FINANCIAL MARKET

Abstract

The article offers an analytical overview of the impact and identification of potential opportunities for integrating artificial intelligence technology into the global financial market. The author defines artificial intelligence (AI) as a fundamental component of the digital global economic system, the formation of which can be observed now. The author analyzes the diversity of forms of manifestations of this technology, which includes both basic digital tools and highly complex systems with the ability to think and self-learn, demonstrating the importance of AI as one of the dominants of digital transformation and the emergence of a fundamentally new economy. It is proposed to consider artificial intelligence as a universal resource that can contribute to socio-economic development by offering qualitatively new solutions and opportunities in those industries where traditional approaches have already exhausted all their capabilities and are unable to cope with the unprecedented challenges of our time. It is noted that the introduction of AI in the global financial market, subject to a balanced approach, can be a potential solution to a wide range of economic and financial issues. A quantitative and qualitative analysis of the development of the artificial intelligence technology market and its implementations, in particular in the financial sector, primarily in investment management, is carried out. The author emphasizes the importance of integrating AI with other leading digital technologies that have also found wide application in the global financial market, including blockchain, distributed ledgers, big data, digital wallets, crowdfunding and crowdsourcing platforms, Internet acquiring, etc. Attention is focused on the transformations that AI brings to the model of the global financial market. Both positive and negative aspects of AI implementation are identified, including issues of national security, loss of control over financial transactions, etc.