Artificial Intelligence and Financial Market Supervision<\/p>\n
Welcome the algorithm, but as a “digital assistant” at the service of human assessment<\/p>\n
Opportunities, Limits, and Risks in a New Consob FinTech Notebook<\/p>\n
Artificial intelligence can provide a positive boost to financial market supervision, ensuring greater speed and efficiency in analysis.<\/p>\n
The use of AI systems, however, must remain subordinate to human assessment, ensuring full traceability and explainability of decision-making processes and results obtained, while respecting fundamental human rights, including the right to non-discrimination, defense, and access to documents.<\/p>\n
This, in a nutshell, is the conclusion reached in Consob’s latest FinTech Notebook, Reflections on Artificial Intelligence and Supervisory Activities.<\/p>\n
In the study, the authors\u2014Paola Deriu, Head of Consob’s Regulatory Studies and Strategies Division, and Stefania Racioppi, a PhD student in Public Law at the Faculty of Law of Sapienza University of Rome\u2014highlight the opportunities and risks of SupTech (Supervision & Technology), or the use of artificial intelligence tools in financial supervision, in light of the experiences gained by Consob and other supervisory authorities abroad, as well as the relevant regulatory framework at the national and European levels.<\/p>\n
The use of AI systems is recognized as a driving force for supervision. At the same time, however, the scope of these applications is currently limited to the role of “digital assistant,” particularly for the diagnostic and predictive function of market anomalies, supporting the human analyst\/decision-maker who has the final say.<\/p>\n
SupTech, the Paper argues, brings with it not only technological innovation, but also a cultural transformation. The study highlights the need for new skills, new organizational structures, and data governance that are up to the challenges posed by the digital ecosystem.<\/p>\n
The work adopts a multidisciplinary approach, intertwining legal, economic, and technical-scientific perspectives, with a view to increasingly data-driven and evidence-based supervision.<\/p>\n
The publication represents an opportunity for reflection for all public administrations interested in critically and thoughtfully evaluating the adoption of artificial intelligence tools in their decision-making processes.<\/p>\n
August 6, 2025<\/p>\n
Source Consob<\/p>\n