Artificial intelligence
The changing data landscape: Part 2
Central Banking speaks to Philip Abradu-Otoo, Juan José Ospina and Howard Chang about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
Banks must be able to explain AI models – Brainard
Fed governor says solving ‘black box’ problem is important first step in improving AI governance
MAS completes first phase of AI ethics initiative
‘Veritas’ aims to tackle bias in AI-driven financial services
The changing data landscape: Part 1
Central Banking speaks to Eyal Rozen, Ramūnas Baravykas and Wanpracha Chaovalitwongse about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
MAS strengthens fintech co-operation with Ghana and Hungary
Agreements will help connect SMEs and foster discussions around regulation and emerging trends
Could AI ever replace human bank supervisors?
Data collection and processing remains key in leveraging artificial intelligence
Paper offers method for evaluating machine learning models
Bank of Spain paper looks at cost and benefits of ML models for predicting credit defaults
BoE looks to gain better understanding of AI
Public-private forum will share knowledge on how artificial intelligence is used in finance
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
Regulators must deal with AI risks – HKMA report
AI systems must keep “humans in the loop”, expert tells Central Banking
Cœuré warns of ‘black box’ problem for regulators
It “may be no coincidence” banks are turning to opaque AI for “capital optimisation”, BIS official says
Computing platforms for big data and AI
Implementing big-data and high-performance computing platforms is critical to support machine learning applications. Rafael Schmidt and Bruno Tissot offer insights on developing a comprehensive information strategy
Online machine learning can warn of impending crisis – Hélène Rey
Approach avoids some of the pitfalls of other methods, the economics professor says
Balancing data policies: what Covid-19 taught us
New rules are needed for data-sharing at a national and international level, write Theodoros Evgeniou, David Hardoon and Anton Ovchinnikov
BIS expands innovation hub network
Several new locations unveiled in Europe and North America
Bank of Korea sets up digital innovation division
Korean central bank aims to increase CBDC research and create new statistics system
BoE paper: narratives can help overcome ‘radical uncertainty’
Speaking directly to the public can improve analysis and communication of policy, authors find
MAS launches framework to promote responsible AI
MAS to work with banks to fight potential biases introduced by AI tools
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
The Central Bank of Brazil governor speaks about how Brazil is managing fallout from the coronavirus pandemic, the benefit of large reserves, his plans to deploy emergency asset purchases and why he favours extending the IMF’s SDR funding
BoE paper: mining newspaper text can boost forecasts
Authors design “powerful new method” of incorporating text information into macroeconomic forecasts
The impact of AI adoption on supervisors
MAS’s former data chief says a triad of basic AI training, supervisor data scientist hubs and suptech adoption create strong foundations
The long march to global growth
Liang Tao, vice-chairman of the China Banking and Insurance Regulatory Commission, says that China’s growth is fuelling innovation and modernisation, but financial regulation and governance needs to be tightened up for China to take its place at the top…
Risk manager: Central Bank of Brazil
The G20 central bank has made important breakthroughs in applying ERM
Podcast: fintech predictions for 2020
Will cloud technology become mainstream? Is artificial intelligence the future of regulation? Rachael King and Adam Csabay make their fintech predictions for 2020 in the second episode of Tech Talk