Bank for International Settlements says policymakers should harness artificial intelligence to monitor data in real time. London — Central banks should embrace the benefits of artificial intelligence (AI) the Bank for International Settlements (BIS) says, but stresses the technology should not replace humans when it comes to setting interest rates.

In its first major report into the rapidly advancing world of AI, the central banking umbrella group said policymakers should harness its immense power to monitor data in real time to “sharpen” their inflation-predicting abilities. click here to read full article