BIS Innovation Summit 2025: Future-proofing central banks Bunge: “Central banks must be a part of AI development”
News “Central banks and supervisors need to cooperate and share best practices when implementing artificial intelligence in their operations. Institutions such as the Bank for International Settlements (BIS) play an important role here," said Deputy Governor Aino Bunge today, when she took part in a panel discussion at the BIS Innovation Summit.
“There are both risks and great opportunities in implementing AI in the financial sector; it is important to have a balanced view. But standing by and watching is not an option, central banks need to keep up with the rapid developments, otherwise we cannot manage the risks either.”
She also emphasised that new technologies in the financial sector must be implemented responsibly. It is important that trust in financial firms is maintained and that authorities provide clear guidance. Cooperation is also needed to recognise risks that do not follow national borders, but this is made more difficult in a world of increased geopolitical tensions, according to Ms Bunge:
“We see a questioning of international standards and regulation. Simplification of rules is good, but it is worrying that lighter regulation can now be seen as a competitive advantage even in important areas for stability.”
Ms Bunge also commented on the ongoing development of stablecoins and the intense international debate on the risks they may pose. In particular, she emphasised that it is crucial to take into account risks to financial stability if regulations differ from one country to another.