Bank of Russia Uses AI for Routine Operations, Human Decisions Remain for Monetary Policy
Central Bank chief Elvira Nabiullina says AI assists with data analysis but cannot replace professionals in policy decisions
Quick Look
- The Bank of Russia employs artificial intelligence as an auxiliary tool for routine operations and data analysis, but human decision-makers retain full control over monetary policy, Central Bank chief Elvira Nabiullina stated at a press conference.
- AI is used in primary data analysis stages, though Nabiullina noted that AI cannot yet replace professionals in the monetary policy sphere.
AI-generated summary
MOSCOW, April 24. /TASS/. The Bank of Russia is using artificial intelligence (AI) technologies as an auxiliary instrument in routine operations and data analysis but only people make decisions in the monetary policy sphere, Central Bank chief Elvira Nabiullina said at the press conference after the Board meeting. "We indeed endeavor to use artificial intelligence where we see an effect from it. Firstly, as an assistant in doing some routine operations, information and data analyzing. Nevertheless, we do not use it when discussing the monetary policy, in decisions," she said. Such technologies are used in particular at the primary data analysis stage, Nabiullina added. "In analysis - yes, we use artificial intelligence in some elements when primary data analysis takes place. However, from our point of view, artificial intelligence cannot replace professionals there so far," she noted.
