ECB's Escrivá: AI Generates Various Risks, Financial Infrastructure Assessment Needed

On May 10, José Luis Escrivá, a member of the European Central Bank's Governing Council, stated that with the rapid development of artificial intelligence, central banks around the world must reassess the resilience of financial infrastructure against risks, while maintaining their ultimate role as a safety net to guard against potential risks posed by stablecoins. Escrivá, who also serves as the Governor of the Bank of Spain, remarked at an event in Tarragona on Saturday, "The recent developments in artificial intelligence compel us to re-examine the robustness of financial infrastructure and the overall cybersecurity capabilities."