The new paradigm for the Financial Industry in the Technological Era

This contribution aims to examine the automation systems already prevalent in the current market and the potential application of artificial intelligence models in the financial sector. The articole will take into account the examination of the challenges, highlighted in the relevant literature, caused by the increasing dehumanization of the financial industry. In this contribution, we will focus on various existing robo-advisor models, categorized based on the structure of the relationship between the intermediary and the client, as well as the level of human interaction with the machine. With regard to banking crises, it is essential to evaluate the specific contribution that artificial intelligence could provide to intermediaries and competent supervisory bodies in identifying the most effective measures to activate at the first signs of difficulties in credit institutions. In conclusion, it can be stated that artificial intelligence can serve as a valuable support tool for regulatory authorities in banking and finance, ensuring the proper functioning of markets. Therefore, the financial industry should embrace the ongoing technological change with enthusiasm, adapting, among other things, existing operational systems to those of the new generation of digital automation. Naturally, achieving this goal implies that the European legislator formulates clear, precise, and appropriate rules to ensure the primacy of humans over machines