Bank of Korea (BOK) Gov. Rhee Chang-yong delivers a welcome speech at the BIS-FSC-BOK Conference on AI, Finance, and Central Banking at the BOK headquarters in Seoul on Dec. 17, 2024. (Image courtesy of Yonhap)
SEOUL, Dec. 17 (Korea Bizwire) — The Bank of Korea (BOK) is developing an artificial intelligence-based early warning system to better prepare for potential risks, its chief said Tuesday.
During an international forum in Seoul, BOK Gov. Rhee Chang-yong said the central bank had decided to actively invest in the AI-based financial forecast and warning systems.
“We are using AI technology in economic forecasts and analysis,” Rhee said in a welcome speech.
“We are developing an early warning system to detect potential risks in the financial markets,” he added, while expressing hopes that such efforts and investments will bear fruit in the future.
(Yonhap)
