Artificial intelligence
Geopolitics and cyber security remain top systemic risks – BoE
Respondents less worried about UK stability, but international tensions a growing concern
BIS paper explores ‘ChatGPT for central banking’
Language models can analyse sentences but needs more work when it comes to complex content
‘Unpredictable’ risk driven by AI, geopolitics – Lagarde, Buch, Rehn
European supervisors call for caution – and more authority – at ESRB annual conference
Machine learning can improve inflation forecasts – IMF paper
Model for Japan is “easily interpretable” and overcomes some drawbacks of standard models
Supervisors use generative AI to tame ‘chaotic’ data
Officials merge credit databases with unstructured reports to sharpen bank oversight, explains Banco de España ex-deputy
AI risks ‘strikingly similar’ to financial ones – DNB official
Central banks entering new phase of risk management, says board member responsible for supervision
Lower-paid workers face greatest impact from AI – BIS paper
Risk of core skills being replaced, and jobs being lost, is higher for people on low incomes
Campos Neto on inflation targeting, independence and the future of financial intermediation
The Brazilian governor speaks with Christopher Jeffery about tackling inflation, the need for financial autonomy, and redefining the financial landscape with open finance, programmable Pix, deposit tokenisation and sound cross-border payments governance
HKMA launches GenAI sandbox
Authority encourages banks to test use cases such as improved risk management and anti-fraud efforts
Innovate to tackle challenges, says BoT deputy governor
Mallikamas outlines ways to deal with economic and geopolitical uncertainties
MAS steps up support for AI and quantum computing capabilities
Central bank to provide extra S$100 million for financial institutions to explore new technologies
BIS launches joint project to map supply chains
IMF, World Bank, United Nations and others join Project Insight
ECB official calls for European AI strategy
Plan required to keep European firms competitive, ECB board member Cipollone says
MAS carbon emissions rise amid shift to greener investment portfolio
Equity and corporate bond climate exposures fall as rising air travel and data use drive up own emissions
AI, quantum computing and tokenisation set to transform finance – Menon
But significant barriers remain preventing the technologies from unlocking their full potential
EU central banks don’t want to ‘over-regulate’ AI
Lack of international co-operation may spur regulatory arbitrage, panellists warn
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
Luxembourg governor becomes victim of deepfake attack
German dialogue and unnatural mouth movements reveal fraud
BIS predicts AI will be inflationary in long term
Expects accelerated inflation dynamics as firms adjust prices in response to shocks
European Commission opens consultation on AI in finance
As AI use in financial services increases, regulators must balance innovation with risk
Ethiopia approves CBDC law as it pursues bitcoin mining policies
Monetary policy and financial stability committees established as part of economic reforms
GenAI could amplify cyber risks – Banque de France official
Mass use of AI could amplify “herd behaviour” in financial markets, Denis Beau warns
Start small to secure resources for AI, central bankers say
Data-driven results could demonstrate GenAI’s usefulness, Summer Meetings hear
Central Banking Awards 2024 ceremony honours best in field
Shirakawa receives lifetime award and Brazil is named central bank of the year