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Benefits and risks of the application of artificial intelligence in central bank operations


TERRA ECONOMICUS, Vol. 24, No 2

Citation: Kochergin D.A. (2026). Benefits and risks of the application of artificial intelligence in central bank operations. Terra Economicus 24(2), 101–116 (in Russian). DOI: 10.18522/2073-66062026-24-2-101-116


The article deals with the opportunities and risks associated with the implementation of artificial intelligence technologies in central banks. The study examines the key concepts and elements of the artificial intelligence hierarchy, identifies the most promising areas for the application of generative artificial intelligence in central bank operations, highlights the risks associated with the implementation of artificial intelligence, and proposes methods to minimize them. The study found that the main contemporary cases for artificial intelligence use in central banks involve: economic analysis and forecasting, improving the functioning of payment systems, regulation, supervision, and control over the activities of financial institutions, detection of information anomalies, and risk assessment. It has been established that the use of artificial intelligence technologies in central banking operations can enhance the effectiveness of anti-money laundering efforts, strengthen cybersecurity, and support the fulfillment of mandates related to price and financial stability. At the same time, the adoption of such technologies may create new sources of operational, reputational, and model risks, as well as risks related to data privacy, which requires the establishment of an adequate risk management system. Adapting existing risk management models to artificial intelligence projects based on a multi-layered defense approach, along with the comprehensive implementation of measures to minimize the negative consequences of artificial intelligence adoption, can facilitate its implementation across various areas of central bank operations.

Keywords: artificial intelligence; machine learning; generative artificial intelligence; central banks; central bank operations; artificial intelligence risks
JEL codes: C63, G21, G22, E58, O33



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Publisher: Southern Federal University
ISSN: 2073-6606












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