Bank of Korea sets up digital innovation division

The Bank of Korea

South Korea’s central bank is setting up a digital innovation division, to research digital currency and accelerate its use of artificial intelligence and big data.

The Bank of Korea will appoint a deputy governor as chief digital strategy officer to head the new division, it said on June 9, and plans to establish a new economic statistics system by the end of 2022. The new system will be designed to take advantage of big data and machine leaning, in a bid to make forecasts more efficient and

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