Moody’s warns bank AI race risks “systemic dependency” on Silicon Valley

Could AI leave banks beholden to a handful of tech vendors? The Guardian

The concentration problem:

Adoption is already deep. UK Treasury select committee report

Regional banks aren’t exactly waiting on the sidelines. Emirates NBD ranked first Evident AI Index for Banks, Middle East and Africa (pdf)

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MARKETS THIS MORNING

Shares across Asia rose in early trading this morning

Interest rates (CBE)

S&P Egypt Sovereign Bond Index

+0.1% (YTD: +10.0%%)

S&P MENA Bond & Sukuk

VIX (Volatility Index)

The EGX30 rose 0.8% at yesterday’s close