Artificial intelligence
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
Lessons from the banking turmoil of 2023
Guardrails on capital, liquidity, deposit insurance, resolution, digitalisation and disintermediation need a rethink
Swift tests AI-driven fraud detection
Pilot projects aim to detect fraudulent activity and improve information sharing
Acemoglu questions productivity benefits of AI
MIT economist finds weak productivity gains from AI and says benefits may be undermined by costs
Artificial intelligence: key questions for financial supervisors
Manoj Singh outlines what supervisors need to be asking as they learn to interrogate machines
Use machine learning to protect payment systems – research
Tool could also be used to warn of money laundering and bank runs, researchers say
Communications Benchmarks 2024 – model banks analysis
Additional breakdowns of the data highlight differences in emerging market and advanced economies