The Bank of Russia uses artificial intelligence in its work, but does not entrust it with key decisions on monetary policy. This was stated by the head of the Central Bank, Elvira Nabiullina, at a press conference following the meeting of the board of directors.
According to her, AI is primarily used as a tool for processing information and performing routine tasks. In particular, technologies help with initial data analysis, but the final conclusions remain with specialists.
We really try to use artificial intelligence where we see an effect from it. First of all, as an assistant in carrying out some routine operations, in analyzing information, data.
She emphasized that AI is not used in discussions of monetary policy and decision-making.
At the same meeting on April 24, the Central Bank lowered the key rate by 50 basis points – to 14.5% per annum. This is the eighth consecutive reduction and the fifth time in a row that the indicator has decreased by 0.5 percentage points.
The use of AI in government agencies is gradually expanding. The Ministry of Economic Development uses neural networks to search for information and process data, and the government uses them to forecast the implementation of state programs and assess risks.
At the same time, in all cases, key decisions remain with people: AI is considered as an auxiliary tool.
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