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DOI: 10.33226/0137-5490.2021.8.1
JEL: O30, E22, D14, D18

Artificial intelligence and algorithms assisting personal finance. A legal and economic perspective

The fourth industrial revolution, Economy 4.0 and Finance 4.0 are facts. Technological changes in the context of finance have resulted in a more active application of artificial intelligence, machine learning and algorithms for product ranges and services aimed at individual clients. Examples of applying AI within the financial sector are automated creditworthiness assessment and financial advice (robo-advice). The article presents these areas from a legal and economic perspective. The wider application of algorithms within the financial sector requires a non-conventional approach by regulators in order not to over-regulate this new and promising segment of the financial services market.


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Keywords: artificial intelligence; algorithms; creditworthiness; machine learning; robo-advice




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Akty prawne i inne źródła/Legal acts and other sources

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Commission delegated Regulation (EU) 2017/589 of 19 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the organisational requirements of investment firms engaged in algorithmic trading (Text with EEA relevance), Official Journal of the European Union L 87/417, (12.03.2021).

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Ethical guidelines on trustworthy artificial intelligence, High Level Expert Group on Artificial Intelligence, 2018, (15.03.2021)

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