World's central banks are wary of AI and struggling to quit the dollar, survey shows

By Libby George

LONDON (Reuters) -Artificial Intelligence is not a halfway portion of operations astatine astir of the world's cardinal banks and integer assets are disconnected the ​table, according to a survey released connected Wednesday by the Official Monetary and Financial ‌Institutions Forum.

The moving radical of 10 cardinal banks from Europe, Africa, Latin America and Asia managing astir $6.5 trillion ‌in assets besides recovered that the institutions that person delved deepest truthful acold into AI are the astir cautious astir the risks.

The superior interest is that AI-driven behaviour could "accelerate aboriginal crises," the survey showed.

"AI helps america spot more, but decisions indispensable stay with people," 1 subordinate was quoted ⁠as saying successful the group's report.

More ‌than 60% of respondents said that AI tools - which person sparked layoffs already astatine exertion companies and retail and concern banks - are not ‍yet supporting halfway operations.

"Most aboriginal applications centred connected regular analytical tasks alternatively than hazard absorption oregon portfolio construction," the study found.

In contrast, astir cardinal banks are utilizing AI chiefly for basal work, specified arsenic ​summarising information oregon scanning markets.

The immense bulk of the banks, 93%, besides bash ‌not put successful integer assets, according to the survey, which recovered that "tokenisation is viewed with involvement and cryptocurrencies with caution."

The radical included six banks from G20 countries and 2 from the G7.

The survey revealed that banks presumption the satellite arsenic hurtling toward a multipolar strategy - sparking a tendency to diversify, but besides absorption connected resilience and liquidity, which narrows the reserves they volition consider.⁠

While astir 60% privation to diversify distant from the ​dollar, the unmatched liquidity of U.S. Treasuries kept ​the U.S. currency anchored.

"We are moving from a bipolar to a multipolar reserve system, but the euro is not acceptable yet to lead," ‍one moving radical subordinate was ⁠quoted arsenic saying successful the survey.

The dollar's presumption arsenic the world's apical reserve currency has been called into question this twelvemonth fixed U.S. President Donald Trump's tariff ⁠policies and interest astir Federal Reserve independence. The euro and China's yuan are expected to benefit, but the dollar ‌is expected to stay the ascendant currency successful overseas speech reserves.

(Reporting by Libby ‌George, editing by Karin Strohecker and Tomasz Janowski)