ai is not a new discipline a€ “ various use cases have been around for quite some time now. and as i pointed out earlier, many of the risks involved are risks we're already familiar with. they're just wearing new disguises. although this is no reason for complacency, we can take comfort in the fact that we're not starting from scratch. in short, i see the glass as half full. innovation has brought us many good things throughout history, from the printing press to drones that can help improve wine production. the possibilities of ai may be endless, but humans are inventive. so i'm confident that we'll be able to put ai to good use while keeping its darker sides in check. 3 / 3 bis - central bankers'speeches

rasheed mohammed al maraj : rebuilding confidence in the financial sector introductory remarks by he rasheed mohammed al maraj, governor of the central bank of bahrain, at the chartered institute for securities and investment ( cisi ) event “ rebuilding confidence in the financial sector ”, organized in conjunction with the bahrain institute of banking and finance, manama, 4 october 2011. * * * distinguished guests, ladies and gentlemen : it gives me great pleasure to be here at the first of the continuing professional development events being arranged by the chartered institute for securities and investment in conjunction with the bahrain institute of banking and finance. i am sure that many of you here this evening are already familiar with the cisi ’ s work. for almost 20 years, the cisi has been recognised as the leading professional body for the investment industry in the uk. it now has over 40, 000 members in 89 countries. bahrain is on course to have the largest membership outside the uk, due in part to the success of the bibf ’ s financial advisor programme, which allows successful candidates to become affiliate members of the institute. membership of the chartered institute is recognition that an individual has achieved not only a high standard of technical competence, but also displays the ethical judgement and personal integrity necessary if confidence in the financial system is to be maintained. confidence and integrity are, without a doubt, the foundation of the financial system. all financial firms – whether they are banks, investment managers, insurance companies, or securities brokers – are alike to the extent that they make a promise to the customer. similarly, customers have to believe that the people working in the industry are placing their interests first. if they doubt that the firm or its employees are truly interested in making the customer ’ s money grow, rather than claiming as much of it as possible in the form of fees and bonuses, they will be reluctant to deal with financial firms. these are just two examples of the way in which consumers ’ trust in financial firms can break down. in the last few years we have seen plenty of examples around the world of financial firms that have lost the trust of their customers and have paid a heavy price. the recent allegations that the employees of some large investment banks deliberately created financial products that would fail, imposing large losses on customers so their own firms could benefit, are simply the most high profile of many such allegations that have been unearthed following the financial crisis. regulators have an important role to play in ensuring that customers can trust the financial institutions that they deal with