NBU discussed with central banks of 32 countries a new era of strategies: flexibility and artificial intelligence

According to НБУ: Participants of the annual international round table of the National Bank of Ukraine on strategic management discussed new approaches to the strategic development of central banks. The event took place on November 26-27 and was themed: 'Flexibility, digitalization, and innovation: a new era of strategic development for central banks.'

During the discussion, several important aspects were noted, including:

• the future of financial services and the role of the central bank;
• the growing role of strategic foresight;
• the role of digitalization in optimizing the monitoring and reporting process;
• digital transformation and simplification of operational processes;
• examples of artificial intelligence applications in central banks.

'In Ukraine, we are working in an exceptionally challenging environment: full-scale war, energy vulnerability, inflationary risks, constant shocks. However, despite this, we are building a central bank that thinks strategically, acts flexibly, undergoes technological transformation, and integrates into the global financial system. In such circumstances, strategic management ceases to be just a desirable tool and becomes a necessary factor of stability and a guideline for decisions made daily,' emphasized NBU Chairman Andriy Pyshny.

Nearly one hundred representatives of central banks and other financial regulators from 32 countries participated in the event, including representatives from the European Central Bank, the International Monetary Fund, the World Bank, the OECD, and other organizations.

The annual international round table of the National Bank of Ukraine discussed the modern challenges and opportunities for the strategic development of central banks. Participants highlighted the importance of flexibility, digitalization, and innovation in this process, emphasizing that strategic management is becoming key to the stability and development of the financial system in the face of constant challenges and unrest in the financial markets.