Rob Graumans
- 22 September 2026
- DISCUSSION PAPER SERIES - No. 32Details
- Abstract
- Artificial intelligence is transforming financial markets by enabling investors and intermediaries to extract more information from increasingly abundant data through advances in algorithms and computing power. We discuss how AI changes information production and decision-making, labor demand, and financial intermediation, with a particular emphasis on securities markets. We then survey the implications of this transformation for market efficiency, competition, informational frictions, and financial stability.
- JEL Code
- G1 : Financial Economics→General Financial Markets
G14 : Financial Economics→General Financial Markets→Information and Market Efficiency, Event Studies, Insider Trading
G23 : Financial Economics→Financial Institutions and Services→Non-bank Financial Institutions, Financial Instruments, Institutional Investors
G28 : Financial Economics→Financial Institutions and Services→Government Policy and Regulation
E6 : Macroeconomics and Monetary Economics→Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook