Brazil’s Central Bank Eyes AI for Future Digital Currency Upgrade

The Central Bank of Brazil is considering integrating artificial intelligence (AI) and data monetization into Drex, its central bank digital currency (CBDC).

President Roberto Campos Neto recently outlined the bank’s innovation agenda, which includes Pix, Drex, Currency Internationalization, and Open Finance, with AI and data monetization as potential future additions. Although specifics are still unclear, the bank has launched the Center of Excellence for Data Science and Artificial Intelligence (Cde IA) to enhance institutional efficiency using AI.

Clever Robot News Desk 6^th September 2024