European Business Schools Librarian's Group
HEC Research Papers Series,
HEC Paris
No 1662: Artificial intelligence and financial markets
Álvaro Cartea, Jean-Edouard Colliard, Thierry Foucault, Peter Hoffmann, Rob Graumans and Jean-David Sigaux
Additional contact information
Álvaro Cartea: University of Oxford - Oxford-Man Institute of Quantitative Finance
Jean-Edouard Colliard: HEC Paris - Finance Department
Thierry Foucault: HEC Paris - Finance Department
Peter Hoffmann: European Central Bank (ECB)
Rob Graumans: Oxford-Man Institute of Quantitative Finance; Autoriteit Financiële Markten (AFM)
Jean-David Sigaux: European Central Bank (ECB)
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.
Keywords: agency conflicts; artificial intelligence; competition; financial stability; market efficiency
86 pages, September 24, 2026
Full text files
abstract=7515878 HTML file Full text
Questions (including download problems) about the papers in this series should be directed to David Melon ()
Report other problems with accessing this service to Sune Karlsson ().
RePEc:ebg:heccah:1662This page generated on 2026-09-25 09:50:53.