ECB’s Cipollone Says AI Can Help Central Banks, Needs Safeguards

European Central Bank Executive Board member Piero Cipollone said artificial intelligence can be helpful for central banks but its use must be monitored and properly supervised.

“AI offers opportunities for innovation and efficiency gains, from economic analysis to communication,” Cipollone said Thursday. “But there are also risks that must be considered, and we are duly building appropriate safeguards.”