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Artificial intelligence in central banking

BIS Bulletin No 84

This BIS Bulletin provides a brief summary of concepts in the machine learning and AI space. It then discusses central bank use cases in four areas: (i) information collection and the compilation of official statistics; (ii) macroeconomic and financial analysis to support monetary policy; (iii) oversight of payment systems; and (iv) supervision and financial stability. The Bulletin also summarises the lessons learned and the opportunities and challenges arising from the use of machine learning and AI. It concludes by discussing how central bank cooperation can play a key role going forward.

Categories: Recommended Readings
Author: BIS