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How the ECB Utilizes AI in Oversight

How the ECB Utilizes AI in Oversight

by Starling Insights

Starling Insights Editorial Board

Oct 23, 2023


In a recent blog post, Myriam Moufakkir, Chief Services Officer, explained how the European Central Bank (ECB) is exploring the use of artificial intelligence (AI) to improve its understanding of inflation and bolster its oversight of major banks.

Moufakkir wrote that the ECB is investigating how large language models, akin to ChatGPT, can be employed for various purposes, such as generating summaries and briefings for policy and decision-making, improving the clarity of public statements, and analyzing documents from banks.

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