How can new tools and technology such as artificial intelligence encourage new ways to communicate in the world of prudential regulation?

Helen Packard, Sholthana Begum and Melvin Lopez-Corleone
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Helen Packard: Bank of England, UK
Sholthana Begum: Bank of England, UK
Melvin Lopez-Corleone: Bank of England, UK

Journal of Digital Banking, 2022, vol. 7, issue 2, 103-114

Abstract: This paper sets out how emerging technologies, such as artificial intelligence (AI), can enhance the supervisory efficiency of a modern regulator. The growth and complexity of data present both an opportunity and challenge for global regulators within the data-driven financial services landscape. The need to communicate and use data presents a skills evolution and optimisation for regulation and society. This paper includes a case study on how introducing an AI search and analysis tool has provided the Prudential Regulation Authority (PRA) at the Bank of England with a vast array of new and exciting insights.

Keywords: artificial intelligence; digital skills; supervision; communication (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2022:v:7:i:2:p:103-114

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