Publication of the REF 135 - Next " Technological developments and finance "

The current wave of Fintech seems to be seriously disrupting the financial system because it is based on the convergence of several different types of innovations. The combination of advances in digital technology and in the transmission, storage, and exploitation of data is impacting the various functions of finance to the point where it may effect revolutionary change in the sector's production and marketing models. Without being exhaustive, this issue of the Review seeks to shed light on and explore in greater depth some aspects of the role of new technologies in the evolution of financial activities, in the transformation of their market structures and, finally, in the emergence and treatment of the new risks associated with them. It is divided into four sections: the effects of artificial intelligence and automatic learning, the ability these new technologies may have to decentralize decisions in the financial system, the potential ensuing restructuring of banking institutions and firms, and, lastly, the impact on risk, the emergence of new risks, and new methods of dealing with risk.

The article on financial history analyzes the 1604 edict of the paulette, which constituted an initial form of marketing public finances. Other articles are devoted to the statistical difficulties encountered in determining how French households employ their savings and to the complementary relationship between shadow banking and traditional financial institutions.