South Korea’s Central Bank to Unveil Proprietary AI Tools by 2025 | MLex

The Bank of Korea is set to implement proprietary artificial intelligence tools later this year to enhance employee efficiency amid growing workloads. Announced by Governor Rhee Chang-yong, these tools are developed within a local company’s AI ecosystem and will operate on the bank’s own network. Utilizing a retrieval-augmented generation technique, they promise improved factual accuracy, dynamic knowledge updates without the need for retraining, and clear explanations—features particularly beneficial for the central bank of South Korea, the fourth-largest economy in Asia. With approximately 2,300 employees expected to utilize these tools, the initiative reflects the Bank’s commitment to modernizing operations through technology. Meanwhile, MLex offers insights and tools for businesses to navigate regulatory changes with daily newsletters and custom alerts across various sectors, promoting awareness and proactive strategies for compliance.

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