Central banks split on machine learning, AI technologies

Respondents optimise features despite drags in data quality, skills gap and algorithmic challenges

Central bank respondents use a number of forms of machine learning (ML) and artificial intelligence (AI) tools, the Fintech Benchmarks 2023 reveal. The technologies are not without their challenges, however.

Half (51%) 35 central banks said they use ML/AI technologies. The challenges institutions face include data quality (49%), acquiring relevant skills (40%), algorithmic fairness (29%), other constraints (23%) privacy (20%) and ethics (14%).

In further comments, many officials said they have

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