Leaders settle for modest action on issues including AI, stablecoins, cross-border payments
The year 2027 was also outlined by the G20 as a target for"faster, cheaper, more transparent and inclusive cross-border payments," to which the group deferred to initiatives undertaken by standard setting bodies and international organizations, including the International Monetary Fund and Bank for International Settlements .
Development of crypto and stablecoin policy was delegated to other SSBs – including the G20-affiliated Financial Stability Board – with a roadmap to be provided by and IMF-FSB Synthesis Paper and BIS providing some risk assessment. Policies on AI were even more vague. The group reaffirmed its commitment to AI principles developed in 2019 – before generative AI vastly increased the exposure and ease with which it could be applied. The leaders said they would"endeavor to share information on approaches to using AI to support solutions in the digital economy" and"pursue a pro-innovation regulatory/governance approach" that takes risks into account and promotes using AI to meet sustainability goals.
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