Artificial intelligence in central banking
Key takeaways
- Central banks have been early adopters of machine learning techniques for statistics, macro analysis, payment systems oversight and supervision, with considerable success.
- Artificial intelligence brings many opportunities in support of central bank mandates, but also challenges – some general and others specific to central banks.
- Central bank collaboration, for instance through knowledge-sharing and pooling of expertise, holds great promise in keeping central banks at the vanguard of developments in artificial intelligence.
00:14:53
Podcast
23 Jan 2024
Artificial intelligence in central banking
Central banks were early adopters of AI and machine learning. But as the world ramps up efforts to embrace new technologies, what does this mean for central banks? How can they stay ahead of the curve?
Sebastian Doerr and Douglas Araujo discuss the findings of a BIS Bulletin on AI applications in central banking and the challenges that central banks might face in the future in this area.
The views expressed in this publication are those of the authors and do not necessarily reflect the views of the BIS or its member central banks.
