Generative Artificial Intelligence and Cyber Security in Central Banking.

This article examines the adoption and impact of generative artificial intelligence (gen AI) on cyber security practices within central banks, based on a survey of chief information security officers from 32 central banks worldwide. It finds that most central banks have already integrated or plan to integrate gen AI tools, recognizing benefits such as improved cyber threat detection, faster response times, and automation of routine tasks, while also acknowledging new risks including social engineering attacks and unauthorized data disclosure. A significant challenge identified is the shortage of personnel skilled in both AI programming and cyber security, prompting calls for increased investment in human capital and training. Respondents foresee gen AI supporting human experts rather than replacing them, emphasizing the need for human oversight, ethical guidelines, and regulatory frameworks to ensure responsible AI use. The article highlights the importance of collaboration among central banks to address emerging cyber risks and skill gaps associated with gen AI integration.