Central banks are exploring the adoption of artificial intelligence (AI) to enhance functions such as data analysis, economic forecasting, and payments, while facing significant risks including data security and reputational challenges. A report from the Bank for International Settlements outlines a governance framework and ten actionable steps for effective AI implementation, emphasizing the need for a robust risk management strategy. This initiative is a collaborative effort among central banks in the Americas, co-led by representatives from the Bank of Mexico and the BIS.
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