According to Odaily Planet Daily, the Bank for International Settlements (BIS) called on central banks to embrace artificial intelligence (AI) as it expects the technology to have a significant impact on the economy and financial system. In a pre-release chapter of the upcoming 2024 Annual Economic Report, the BIS emphasized that the widespread adoption of artificial intelligence could affect inflation trends and urged policymakers to incorporate artificial intelligence into their operations to enhance financial and price stability.

Cecilia Skingsley, head of the BIS Innovation Center, said regulators are working with central bank partners to actively test the capabilities of artificial intelligence in various areas. For example, Project Aurora is exploring how to detect money laundering from payment data, and Project Raven uses artificial intelligence to enhance network resilience. The full BIS Annual Economic Report 2024 and Annual Report 2023/24 will be released on June 30.