The Bank’s new artificial intelligence (AI) strategy outlines its internal direction for leveraging AI to enhance data and analytics capabilities, ultimately supporting its mission of ensuring monetary and financial stability in the UK. This strategy emphasizes accessibility, enabling all staff to utilize AI tools to improve productivity and foster innovation. Key goals include responsible AI usage, supporting staff through training, and establishing strong governance to manage AI risks. The ‘TRUSTED’ framework underpins ethical AI practices, focusing on targeted, reliable, and tested solutions. Partnerships with central banks and private enterprises will bolster knowledge-sharing. The strategy recognizes the importance of continuous monitoring of AI trends and regulatory implications. By investing in an AI skills curriculum, the Bank aims to attract top talent while ensuring staff understand AI’s opportunities and limitations. Overall, this approach aspires to integrate AI across the Bank effectively, fostering a culture of collaboration and innovation.
Source link
Share
Read more