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AI and notably GenAI promise multiple use cases in banks and financial firms, and many financial firms are already actively working on integrating them in various business areas. This development will have far-reaching implications for banks’ and other financial firms’ business, including the form how services are provided, the scale and type of employment in the banking and finance industry, competition among financial service providers and the financial sector’s profitability. The use of GenAI will also have important implications for customers’ user experience. The link between digital literacy and financial inclusion will require particular attention. Financial firms also have to face resulting challenges for data protection across multiple jurisdictions and in line with the upcoming European AI act. At the system level, the spreading of AI may have implications for financial stability, to which financial regulation and supervision will have to respond adequately.
Further information will follow.
Formal Requirements and Procedure for Submissions
The SUERF/UniCredit Foundation Research Prize is open to authors and co-authors of any nationality born after 22 March 1984. Prizes of EUR 3,000 gross will be awarded to up to two outstanding papers on topics related to the call for papers. The winning authors agree to present their papers at a SUERF/UniCredit Foundation Conference to be held in Vienna (or in a webinar/e-conference) in 2024 – the event date will be announced by mid-May 2024.
Winning authors agree to provide a non-technical 5-10 page policy-oriented summary of their research findings for publication as a SUERF Policy Brief or Note. Applications should be submitted in English through the online submission form on the UniCredit Foundation website in PDF format by 22 March 2024. Applications must be accompanied by a brief curriculum vitae including the candidate’s/candidates’ date of birth and a copy of current identity documents that confirm the author’s/authors’ date(s) of birth and eligibility. The prize is open to papers that have been finalised within the last 12 months prior to the deadline for submissions. Full terms and conditions of entry can be downloaded from the SUERF and UniCredit Foundation websites.
