Central banks around the world still lean heavily on the U.S. dollar, and they’re not rushing to adopt Artificial Intelligence (AI) or digital assets into their core operations. That’s the key takeaway from a recent survey by the Official Monetary and Financial Institutions Forum (OMFIF). Despite all the hype, it seems like the world’s financial gatekeepers prefer to play it safe rather than jump on the AI bandwagon.
Reluctance to Embrace AI and Digital Assets
According to the OMFIF report, most central banks remain cautious about using AI in their daily operations. While AI is making waves in tech, banking regulators seem content watching from the sidelines. Digital assets? Still off the table. It looks like central banks are taking the ‘if it ain’t broke, don’t fix it’ approach.
The Dollar Still Reigns Supreme
On top of that, central banks are struggling to reduce their reliance on the U.S. dollar. Despite ongoing discussions about diversification, the greenback remains the go-to reserve currency. Old habits die hard, especially when trillions of dollars are at stake.
Funny how the institutions responsible for our money are more conservative than your grandpa’s wardrobe. Maybe one day we’ll get a central bank that takes risks, but for now, it’s business as usual. Keep your crypto dreams on hold, folks!
Sources:
Reuters