AI adoption does not require governance overhaul – BIS
Study says central banks can build upon existing risk management frameworks
Central banks can enhance existing governance frameworks rather than coming up with new measures when adopting artificial intelligence in their day-to-day operations, a report from the Bank for International Settlements says.
The report, published on January 29 by the BIS’s consultative group on risk management, reviews the existing AI use cases among central banks. It says prominent use cases include forecasting, supervision and customer services.
The study identifies the operational, legal and
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