The Evolving Story of AI: Threat or Opportunity?

Artificial Intelligence (AI) comes with a whole language associated with it. It also comes with a thousand different views on whether it is a threat, an opportunity or something else. All agree that it represents a fundamental shift in how we live and work; we just haven’t worked out what it will mean. The world of currency and payments is not immune.

Since the start of June we have put to one side 35 AI-related posts about central banks, finance and payments found in our internet searches and notifications. There were many, many more. They fall into four broad categories – data, policy, risks, and opportunities, and point to areas those working in cash could be thinking about.

Data

• AI is everywhere, but data is doing the work (Globaldata)
• Big data and machine learning in central banks (BIS)
• How do central banks use big data and machine learning? (SUERF)
• DPS/22 – AI and machine learning (Bank of England).