According to a BIS study, 71% of surveyed central banks use generative AI for cybersecurity, with predictions of 100% adoption soon. AI enhances cyber threat detection and response times, but concerns about costs remain.
Central banks are increasingly adopting generative AI for cybersecurity, with a BIS report indicating that 71% are already using it and more planning to follow.
The BIS, an international financial institution comprising 63 central banks and monetary authorities, surveyed 32 of its central bank members to assess their interest in adopting generative AI tools for cybersecurity. The report The BIS predicts all of its members will adopt generative AI to enhance their internal cybersecurity measures. Central banks that have already implemented generative AI have praised its effectiveness in detecting cyber threats compared to traditional tools.Moreover, generative AI tools have accelerated banks' response times to cyberattacks and aided in the detection of suspicious trends and anomalies.
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