Artificial intelligence is poised to transform the operations of central banks in two distinct ways. Firstly, AI-powered chatbots are emerging as universal assistants, supporting knowledge workers in their daily responsibilities. These include drafting memos and reports, developing statistical models, conducting analyses and predictions, as well as enhancing supervisory functions. Secondly, AI will enable the automation of routine, low-value tasks that require language comprehension and data accessibility.
In this presentation, we draw a contrast between these two narratives and explore how central banks must simultaneously address both dimensions to fulfil their mandates efficiently, without compromising the quality of their output.
