Artificial intelligence
BoE unveils plan to ‘transform’ data collection
Decade-long effort to overhaul data standards and methods of reporting
The Covid crisis, central banks and the future
Crisis responses were needed, but have exacerbated significant underlying challenges facing central banks
The changing data landscape: Part 2
Central Banking speaks to Philip Abradu-Otoo, Juan José Ospina and Howard Chang about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
Banks must be able to explain AI models – Brainard
Fed governor says solving ‘black box’ problem is important first step in improving AI governance
MAS completes first phase of AI ethics initiative
‘Veritas’ aims to tackle bias in AI-driven financial services
The changing data landscape: Part 1
Central Banking speaks to Eyal Rozen, Ramūnas Baravykas and Wanpracha Chaovalitwongse about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
MAS strengthens fintech co-operation with Ghana and Hungary
Agreements will help connect SMEs and foster discussions around regulation and emerging trends
Could AI ever replace human bank supervisors?
Data collection and processing remains key in leveraging artificial intelligence
Paper offers method for evaluating machine learning models
Bank of Spain paper looks at cost and benefits of ML models for predicting credit defaults
BoE looks to gain better understanding of AI
Public-private forum will share knowledge on how artificial intelligence is used in finance
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
Regulators must deal with AI risks – HKMA report
AI systems must keep “humans in the loop”, expert tells Central Banking
Cœuré warns of ‘black box’ problem for regulators
It “may be no coincidence” banks are turning to opaque AI for “capital optimisation”, BIS official says
Computing platforms for big data and AI
Rafael Schmidt and Bruno Tissot offer insights on developing a comprehensive information strategy
Online machine learning can warn of impending crisis – Hélène Rey
Approach avoids some of the pitfalls of other methods, the economics professor says
Balancing data policies: what Covid-19 taught us
New rules are needed for data-sharing at a national and international level
BIS expands innovation hub network
Several new locations unveiled in Europe and North America
Bank of Korea sets up digital innovation division
Korean central bank aims to increase CBDC research and create new statistics system
BoE paper: narratives can help overcome ‘radical uncertainty’
Speaking directly to the public can improve analysis and communication of policy, authors find
MAS launches framework to promote responsible AI
MAS to work with banks to fight potential biases introduced by AI tools
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
Brazil’s governor details emergency asset purchase plans and backs extending SDR funding
BoE paper: mining newspaper text can boost forecasts
Authors design “powerful new method” of incorporating text information into macroeconomic forecasts
The impact of AI adoption on supervisors
Triad of AI training, supervisor data scientists and suptech needed