crisis. we have come sa long way, but there are still challenges ahead of us for the ten years to come. yet the challenges for the financial industry are gradually changing in nature : they could shift from adapting to the regulatory or monetary policy environment to reflecting on new business model strategies. in this regard, the expected strengthening of the economic recovery will hopefully make the path smoother. austerity – or rigour – will remain necessary, but innovation will be the game changer. thank you for your attention. 4 / 9 bis central bankers'speeches slide 2 5 / 9 bis central bankers'speeches slide 3 6 / 9 bis central bankers'speeches slide 4 7 / 9 bis central bankers'speeches slide 5 8 / 9 bis central bankers'speeches slide 6 9 / 9 bis central bankers'speeches

worldwide, including the banque de france which represents the eurosystem, and a large group of private financial firms. a necessary step towards such a global infrastructure could be to build regional unified ledgers – one of which would be european. ii. artificial intelligence : a high priority area starting from now let me now turn to artificial intelligence ( ai ), which has gained widespread public attention thanks to exponential leaps in its performance over the last few years – especially generative ai. for sure, there is still more " talk than walk ", and the " ai hype " could be followed by some disappointment. that said, this is a typical example of an innovation where central banks would be mistaken to wait until they have gained absolute certainty. earlier this year the imf ventured a preliminary estimate : almost 40 % of jobs around the world ( and up to 60 % in developed economies ) may be affected, with ai acting either as a substitute to or as a complement to labour. 3 one striking feature is that while the automation enabled by previous innovations had thus far concerned only simple or routine tasks, ai may also impact highly - skilled jobs. however, according to a recent report coordinated by anne bouverot and philippe aghion in france, 4 only 5 % of jobs are at risk of being fully replaced. as pointed out in an imf paper co - authored by daron acemoglu5, one of the key challenges is to make sure that a " human ai " complements humans instead of replacing them. the pioneering european ai act6, which is expected to be adopted in the coming weeks, is designed specifically to foster trustworthy ai in europe and beyond. and we should be careful not to repeat the mistakes of the past : an excessive concentration of ai players would be detrimental on many levels. this danger may 2 / 4 bis - central bankers'speeches increase further if too few ai models lead to a loss in information diversity and to misalignment between human cognition and ai algorithms. 7 here again, for central banks, learning by doing is of the essence. today we at the banque de france have already deployed ai in several different areas. to give a few examples, we use machine learning to help detect fraud in transactions with the french treasury that are managed by the banque de france ; " neural networks " help staff analyse the probabilities of default of non - financial corporations in our proprietary rating system ; and natural language processing tools enhance analytical capabilities within