Central Bank of Russia to assess possibility of implementing measures to improve access to data for training AI

MOSCOW. Sept 24 (Interfax) - The Central Bank of Russia plans to consider the possibility of implementing measures for increasing developers and consumers' access to data needed for training artificial intelligence models, the CBR said in its report "National Digital Infrastructure of the Financial Market."

Ensuring convenient and secure mechanisms for data exchange between the state, businesses, and citizens for the application of AI in the financial market is one of the promising directions for the development of national digital infrastructure in Russia, the Central Bank said.

"Considering that decisions are increasingly made based on both data and AI models, the quality of the data itself becomes a key factor in the development of AI models in the financial market, and also affects the level of trust in this technology," the report said.

The Central Bank, in addition to improving data quality, notes the importance of developing a comprehensive data architecture for the financial market with the regulator's participation.

In July, the CBR developed and sent to financial organizations a code of ethics in the field of AI development and application. In it, the Central Bank recommended that organizations regularly check the quality of AI, pay attention to the observance of personal data confidentiality, and organize AI risk management.