24 September 2021 - Artificial Intelligence (AI) has progressed rapidly in recent years and is being applied in settings ranging from health care, to scientific research, to financial markets. It offers opportunities, amongst others, to reinforce financial stability, enhance market efficiency and support the implementation of public policy goals. These potential benefits need to be accompanied by appropriate governance frameworks and best practices to mitigate risks that may accompany the deployment of AI systems in both the public and private sphere. Using analysis from a wide range of perspectives, the 2021 edition of the OECD Business and Finance Outlook examines the implications arising from the growing importance of AI-powered applications in finance, responsible business conduct, competition, foreign direct investment and regulatory oversight and supervision. It offers guidelines and a number of policy solutions to help policy makers achieve a balance between harvesting the opportunities offered by AI while also mitigating its risks.
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29 September 2020 - The COVID-19 pandemic has highlighted an urgent need to consider resilience in finance, both in the financial system itself and in the role played by capital and investors in making economic and social systems more dynamic and able to withstand external shocks. Using analysis from a wide range of perspectives, the 2020 edition of the OECD Business and Finance Outlook focuses on the environmental, social and governance (ESG) factors that are rapidly becoming a part of mainstream finance. It evaluates current ESG practices, and identifies priorities and actions to better align investments with sustainable, long-term value – in particular, the need for more consistent, comparable and available data on ESG performance.
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The 2019 edition of the OECD Business and Finance Outlook considers the importance of public trust in business and finance, offering a conceptual approach to understanding facets of trust in finance, investment and business with respect to economic value, fairness and integrity of conduct, as well as alignment with societal values. The Outlook provides an assessment of factors that contributed to a deterioration of trust during the global financial crisis; reviews recent developments that could contribute to a renewed erosion of trust; and, offers policy considerations to help strengthen public trust in business and finance.
The 2018 edition of the OECD Business and Finance Outlook addresses connectivity, both among institutions within the global financial system and among countries. Almost a decade on from the 2008 financial crisis, the Outlook examines new risks to financial stability that will put financial reforms to the test, focusing in particular on the normalisation of monetary policy, debt problems and off-balance sheet activity in China. The Outlook also examines how supply-side and demand-side policies can help ensure foreign infrastructure investment is high quality, sustainable and works for all, with particular reference to China’s Belt and Road Initiative.