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

Author

Listed:
  • Packard, Helen

    (Bank of England, UK)

  • Begum, Sholthana

    (Bank of England, UK)

  • Lopez-Corleone, Melvin

    (Bank of England, UK)

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.

Suggested Citation

  • Packard, Helen & Begum, Sholthana & Lopez-Corleone, Melvin, 2022. "How can new tools and technology such as artificial intelligence encourage new ways to communicate in the world of prudential regulation?," Journal of Digital Banking, Henry Stewart Publications, vol. 7(2), pages 103-114, September.
    • Handle: RePEc:aza:jdb000:y:2022:v:7:i:2:p:103-114
    as

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    More about this item

    Keywords

    artificial intelligence; digital skills; supervision; communication;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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