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How artificial intelligence transformed financial regulation from error correction to risk prediction
The article discusses how digital transformation has changed the concept of financial oversight, shifting from reliance on paper-based checks and post-audit procedures to a system based on modern technology. Digital systems now utilize tools such as real-time auditing software, blockchain techniques for maintaining immutable records, and algorithms that automatically detect suspicious patterns. This advancement enhances transparency and reduces financial fraud. It grants institutions more accurate and flexible oversight and supports safeguarding the economy from corruption and errors through advanced technology, while also presenting challenges related to updating legislation to keep pace with the rapidly evolving market—especially with the development of digital currencies and decentralized finance.
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