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The European Central Bank is leveraging generative artificial intelligence technology to enhance banking regulation. Gen AI technology facilitates regulatory staff in managing their oversight tasks more efficiently. The ECB has developed multiple applications and platform services for over 3,500 users. Gen AI is beginning to flourish in the European financial services sector.

The European Central Bank is conducting a pilot project on the use of generative artificial intelligence technology in its business departments, led by the ECB Infinity Team. The trial covers nine application areas, including document writing and data analysis. The ECB is cautious about the application of AI, paying attention to privacy, legal issues, and others. The ECB is also collaborating with other central banks to explore the applications of artificial intelligence.