Central Banks Ramp up AI Ambitions and Efforts

The IFC's 2026 survey of 65 jurisdictions indicates a significant strategic pivot, with central banks now viewing themselves as AI-ready. This increased prioritization is evidenced by the rise in AI's inclusion in strategic plans and formal discussions of AI and machine learning within half of the organizations. The practical outcome is a clear increase in production-grade AI initiatives, demonstrating a move beyond theoretical interest to tangible application.

Central banks are deploying AI tools for both broad efficiency and specialized analytical tasks. "Productivity copilots," general-purpose AI solutions, are extensively used by half of the surveyed central banks for routine operations. Concurrently, about 25% broadly utilize "narrow models" for specific applications like forecasting or sentiment analysis, suggesting a dual strategy to enhance overall workflow efficiency and support targeted analytical needs.

While organizational and data readiness for AI is advancing, a limitation remains in compliance monitoring. Around half of central banks report moderate capacity for monitoring compliance, with a significant minority still developing or having limited capabilities. In Asia, examples include the Monetary Authority of Singapore (MAS) and Hong Kong Monetary Authority (HKMA) using AI for off-site monitoring, and the Bangko Sentral ng Pilipinas (BSP) deploying ASTERisC in 2023 to automate regulatory supervision and cybersecurity risk assessment for financial institutions.