Artificial intelligence is transforming how central banks operate, redefining human capital and workforce strategies. In the 100th BIS Bulletin, Sarah Bell, Blaise Gadanecz, Leonardo Gambacorta, Fernando Perez-Cruz and Vatsala Shreeti explore two possible scenarios for central banks: “AI copilots” that enhance human productivity, and “AI agents” that could automate specific tasks while still requiring human oversight for ethical and responsible use. Central banks are already leveraging AI copilots to boost efficiency without fundamentally altering workflows yet. However, the potential rise of AI agents could shift workflows, creating new opportunities and challenges in workforce planning, governance, and talent management. To navigate this shift, central banks must prioritize retraining and upskilling staff, attracting tech-savvy talent, and fostering a culture of innovation to fully harness the benefits of AI. Read the bulletin to learn more about the opportunities and challenges ahead. https://lnkd.in/eSVTjUaF #AI #CentralBanking #FutureOfWork #Innovation
Really a thought provoking piece. I think AI offers valuable opportunities for central banks to enhance the clarity and reach of their communication too. By leveraging natural language processing and real-time sentiment analysis, institutions could better understand public reactions and fine-tune their messages accordingly. Far from replacing human judgment, AI can support central banks in fostering trust and transparency—especially when used to simplify complex messages (a problem old as the central banks themselves) and engage broader audiences more effectively
Independent Economic Researcher| Macroprudential Policy| Data Analytics (R programming)|Open to Remote and Freelance Projects
5dThanks for sharing