BISness

Historian and author Yuval Noah Harari discusses AI's impact on finance, emphasizing the need for human oversight. The conversation explores the historical context of technological transitions and the potential of AI in decision-making. They also discuss the implications of AI on information control, trust in money, and nation building.

Discussing the impact of AI on the economy, inflation, and consumer expectations. Exploring how Gen AI will affect job prospects, trust concerns, and disparities across demographic groups. Analyzing the implications of AI as a general purpose technology and the variations in AI tool usage and knowledge. Exploring trust levels in AI tools compared to human-operated services, with a focus on gender disparity and concerns around data privacy. Delving into the macroeconomic effects of AI, including productivity, inflation, employment, and policy implications.

Listen to Chair Pablo Hernández de Cos and Secretary General Neil Esho discuss the Basel Committee's 50-year journey, including global regulatory standards, adapting to new risks like technology and climate change. They also explore the impact of technology on banking regulation, the importance of global cooperation, and upcoming challenges like cyber risks and climate-related risks.

Cecilia Skingsley and Hyun Song Shin explain the BIS’s new project to test the tokenization of commercial and central bank money, in association with seven central banks.

Roberto Campos Neto, Governor of the Central Bank of Brazil, talks to Alexandre Tombini, Chief Representative for the BIS Office for the Americas, about past challenges for the central bank and future priorities, including instant payments and financial inclusion.

Should central banks worry about women’s level of participation in the economy and the economic profession? Rosanna Costa, President of the Central Bank of Chile talks to Alexandre Tombini, Chief Representative for the BIS Office for the Americas about why they should, while also sharing some highlights on Chile’s current macroeconomic situation.

The podcast discusses various topics including central bank caution, market optimism, impacts on market volatility, bond markets, inflation, exchange rates, and economic growth. It also explores inflation drivers, interest rates, bond market liquidity, technology's impact on asset prices, stock market bubbles, and the complexities of R-Star measurement for monetary policy decisions.

Central banks were early adopters of AI and machine learning. But as the world ramps up efforts to embrace new technologies, what does this mean for central banks? How can they stay ahead of the curve? Sebastian Doerr and Douglas Araujo discuss the findings of a BIS Bulletin on AI applications in central banking and the challenges that central banks might face in the future in this area.

Exploring the role of monetary policy in reducing inflation, the impact of Central Bank policies on stabilizing inflation expectations, how central banks influence inflation through wage and price adjustments, the use of signals by central banks to shape aggregate demand, and the impact of inflation regimes on sector shocks and current measures.

Jon Frost and Giulio Cornelli discuss the impact of artificial intelligence on inequality, exploring topics such as AI investment and income distribution. They also delve into how AI can influence inequality through structural transformation and skill-based technical change.