Can AI Revolutionize Financial Consumer Protection?

Artificial intelligence (AI) is already transforming almost every aspect of the financial services industry. It is driving efficiencies and sparking innovation by reshaping the way financial authorities protect consumers—not just how financial service providers operate. But financial authorities need to walk a tightrope. While they need to harness the power of AI to improve consumer protection, they must also address the novel risks and challenges that AI brings, such as new forms of financial fraud, cyber threats, and data privacy concerns.

This episode explores how the Central Bank of the Philippines is embracing AI-powered "SupTech” (supervisory technology) for its chatbot named BOB to enhance financial consumer protection. You'll hear from experts at the Central Bank of the Philippines, the Cambridge SupTech Lab, and CGAP about the potential benefits and risks of this revolutionary technology.