Starting small is key to persuading central bank boards to provide resources for the use of generative artificial intelligence (GenAI), the Central Banking Summer Meetings heard.

Working on small initiatives before launching major projects is a fruitful approach, officials from several countries told a panel meeting on June 13.

“Start very small, pick up the right idea, a problem that is very easy to understand, do it properly, do a lot of marketing and spread the word,” said an innovation