Central banks turn to generative AI for enhanced cybersecurity: BIS

Central banks are increasingly adopting generative AI for cybersecurity, with a BIS report indicating that 71% are already using it and more planning to follow.

The Bank for International Settlements (BIS) believes in the potential for widespread adoption of generative artificial intelligence (AI), an area in which many central banks have developed a strong interest.

The BIS, an international financial institution comprising 63 central banks and monetary authorities, surveyed 32 of its central bank members to assess their interest in adopting generative AI tools for cybersecurity. The report found:

“Over two-thirds (71%) of respondents are already using gen AI, and 26% have plans to incorporate such tools into their operations within the next one to two years.”

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