G7: Issued G7 finance ministers and central bank governors’ statement on implications of artificial intelligence on economic and financial policymaking

On 25 October 2024, the Group of Seven (G7) Finance Ministers adopted a statement addressing the implications of artificial intelligence (AI) on economic and financial policymaking. The statement focused on the establishment of a high-level panel of experts to review the implications of AI on economic and financial policymaking. The statement applies to the finance sector, including macroeconomic impact, financial stability and government and agency use of AI. The statement outlines the panel's mandate to identify the potential opportunities and risks of AI, focusing on safe, secure, and trustworthy AI adoption to enhance productivity while minimising risks to the financial system.