The Legal Research Paper (Quaderno Giuridico) outlines a distinction between weak and strong AI systems: the former depend on predetermined instructions from producers, programmers, or users, while the latter have self-learning capabilities and produce autonomous outputs that are unpredictable from initial inputs.

With the diffusion of these technologies in the financial market, unprecedented protection needs emerge vs. a regulatory apparatus oriented solely on human conduct (commissive or omissive): the tightness of the regulatory framework and the imputation of financial malfeasance conducted with the intervention of these systems. In particular, strong AI systems require the provision of innovative criteria for imputation of liability and undermine the application of the principle of technological neutrality in the regulation of the financial sector.

These are the issues addressed in Consob's Legal Research Paper No. 29, "AI and market abuse: do the laws of robotics apply to financial transactions?" by Federico Consulich (University of Turin), Marco Maugeri (European University of Rome), Carlo Milia, Tommaso Nicola Poli and Gianfranco Trovatore (CONSOB).

The paper identifies three possible and alternative solutions directed at suppressing the harmful conduct of strong AI systems, but each of these solutions has peculiar critical elements.