Finance

AI boosts confidence even in wrong answers, warning on \'cognitive surrender\' spreads in banks

A study found that using AI chatbots can increase confidence in answers, while actual judgment accuracy depends heavily on the quality of information provided. The research, presented at an annual governance and culture reform conference of the New York Fed, drew attention in finance as a new risk to organizational culture and internal controls as AI spreads. Experiments showed participants often followed AI answers regardless of their validity and that response style could shift investment choices.

Crypto

Cardano rebound at a crossroads as $0.258 to $0.260 support comes into focus

Cardano (ADA) is trying to break above a recent high near $0.269 after clearing a descending resistance line on the four-hour chart. The market is watching whether the former resistance zone of $0.258 to $0.260 can become a new support level. A sustained hold could support the short-term uptrend, while a drop back below that range could weaken the near-term bullish case. Further downside support is cited at $0.250 to $0.253.