SACM - United Kingdom
Permanent URI for this collectionhttps://drepo.sdl.edu.sa/handle/20.500.14154/9667
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Item Restricted “Exploring the Macroeconomic Implications of CBDCs”(Brunel University, 2024-09-05) Alnughaymishi, Saleh Mohammed; Korotana, MohammedThis dissertation examines the potential macroeconomic implications of CBDC adoption, focusing on monetary policy, financial stability, and economic growth. A comprehensive literature review explores the historical evolution of money and digital currencies, analysing various CBDC models and design choices. The study delves into the potential impacts of CBDCs on monetary policy transmission mechanisms and financial stability, while also considering the technological and operational challenges associated with their implementation. The dissertation provides a detailed analysis of the UK's legislative framework concerning CBDCs, including an overview of current financial legislation, proposed regulatory changes, and the role of the Bank of England. Comparative analyses with other jurisdictions offer a broader perspective on global regulatory approaches. Empirical analysis1 and case studies of CBDC implementations provide practical insights into the real-world implications of these digital currencies. Based on these findings, the dissertation presents policy recommendations for central banks, governments, financial institutions2, and technology providers to effectively navigate the challenges and opportunities presented by CBDCs.29 0Item Restricted The Legal Status of Artificial Intelligence: Challenges and Possibilities(2023-07-24) Aldossary, Abdulrahman; Devenney, JamesArtificial intelligence (AI) marks a turning point in technological advancement, as it performs effective tasks on behalf of humans. However, the legal aspects of this performance are critical, given AI’s unprecedented ability to self-learn and act independently and intelligently. Many countries, including Saudi Arabia, have widely adopted AI across their private and public sectors, raising substantial concerns over the existing laws. As the core concern of this research is promoting the status of AI, various aspects of this promotion are discussed. In terms of regulation, the author argues that it is too early to comprehensively regulate AI, but a regulatory infrastructure could be established as from now. Specifically, a digital ID scheme is proposed to render AI machines identifiable and manage their risks. Regarding liability, since AI can cause damage independently of human involvement, it is illogical to rely on traditional laws to allocate blame solely to humans. In an initial approach, therefore, this research suggests reasonable alternatives to mitigate human liability, such as imposing mandatory insurance requirements on certain AI machines. Concerning rights, since the promotion of AI status cannot be satisfied without considering the rights of AI; establishing a dependent financial status would render that promotion more feasible. Although this financial status would still be dependent on humans, it should facilitate further development of AI’s financial rights and liabilities. The establishment of a partial financial status would enable the more extensive development of legal conduct for AI. Hence, this research argues that AI has greater potential than ever to attain a legal status in the short- and mid-term. This would include the right to be recognised via possession of an ID, partial liability, and the right to financial status.73 0Item Restricted Ai Governance And Regulation: Emerging Approaches(2023-04-25) Alzahrani, Hani; Gikay, AsressArtificial intelligence (AI) systems are conquering the world and facilitate the shift to an automated future where many work processes become replaced by machines. Significant productivity gains will be reaped from this digital transformation. However, the change to data-driven AI decision-making poses various risks, for instance, can heighten bias/discrimination; removes subjective nuances and discretion which form part of human decision making; creates opacity; leads to unforeseeability/unpredictability; and can centralise control and risk that democracy becomes replaced by technocracy. The regulation and governance of AI is therefore a pressing concern, and four regulatory approaches are emerging: The European risk-based approach, the UK sectoral approach, a human rights approach, and a hybrid approach. These approaches seek to promote innovation and safeguard against risks to varying degrees. The risk-based and sectoral approaches reflect the drive of the EU and the UK to become global leaders in the AI sector since they have opted for an innovation friendly regulatory framework. A theory is proposed for adopting the appropriate regulatory approach. It is emphasised that human rights can play an important role for AI alignment and that even innovation-focused approaches should give more space to human rights.76 0