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Bank of Russia uses AI technologies for analysis

The Bank of Russia does not use it when discussing the monetary policy, in decisions, Elvira Nabiullina said

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.

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