BSP hikes AI utilization to further enhance data-gathering capacity
==========
The Bangko Sentral ng Pilipinas (BSP) has been utilizing artificial intelligence (AI) for around six years to enhance its data-gathering capacity. The use of AI increased during the pandemic when data gathering was hampered by movement restrictions. The budget allocation for AI usage has increased, although specific figures were not provided. Rizal Commercial Banking Corporation chief economist Michael Ricafort believes that the use of AI, when credible and with integrity, can boost productivity and efficiency. However, he emphasizes the need for checks and balances to ensure the quality and integrity of the data. The BSP's increased utilization of AI is part of the digitization of processes, saving time and costs while improving reliability and quality of calculations and information.
#Bsp #Ai #Datagathering #Productivity #Efficiency #Digitization
https://www.sunstar.com.ph/bacolod/bsp-hikes-ai-utilization-to-further-enhance-data-gathering-capacity
SunStar Philippines /
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2024-05-19 12:41:47
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2024-05-19 12:41:47Event JSON
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"content": "BSP hikes AI utilization to further enhance data-gathering capacity\n==========\n\nThe Bangko Sentral ng Pilipinas (BSP) has been utilizing artificial intelligence (AI) for around six years to enhance its data-gathering capacity. The use of AI increased during the pandemic when data gathering was hampered by movement restrictions. The budget allocation for AI usage has increased, although specific figures were not provided. Rizal Commercial Banking Corporation chief economist Michael Ricafort believes that the use of AI, when credible and with integrity, can boost productivity and efficiency. However, he emphasizes the need for checks and balances to ensure the quality and integrity of the data. The BSP's increased utilization of AI is part of the digitization of processes, saving time and costs while improving reliability and quality of calculations and information.\n\n#Bsp #Ai #Datagathering #Productivity #Efficiency #Digitization\n\nhttps://www.sunstar.com.ph/bacolod/bsp-hikes-ai-utilization-to-further-enhance-data-gathering-capacity",
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