Report submitted to the G20 Finance Ministers and Central Bank Governors.
The report examines how central banks, financial regulators and supervisory authorities are using AI for policy purposes. They regularly work with vast data sets and complex decision-making processes to safeguard monetary and financial stability and ensure the integrity of payment systems. New, advanced AI methods – including large language models that power generative AI – have created new opportunities to boost efficiency and effective policymaking.
The report highlights real-world examples of how big data and machine learning are transforming key areas of work. Despite AI's significant potential, challenges remain. These include data governance, investment in human capital, and IT infrastructure.