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South Korea's central bank to launch proprietary AI tools within 2025

By Choonsik Yoo ( June 12, 2025, 07:37 GMT | Insight) -- The Bank of Korea plans to launch proprietary artificial intelligence tools later this year, that will allow its employees to handle an ever-increasing workload more efficiently and effectively. Governor Rhee Chang-yong said today that the new AI tools have been developed within a local company’s sovereign AI ecosystem and will operate on the bank's network. A senior official told MLex that the tools adopt a retrieval-augmented generation technique, known for such benefits as enhanced factual accuracy, dynamic knowledge updates without retraining, and explainability — suited for the central bank of Asia's fourth-largest economy. Some 2,300 employees at the Bank of Korea will soon be able to handle an ever-increasing workload more efficiently and effectively by using proprietary artificial intelligence tools, developed in line with the South Korean central bank’s  approach to adopting new technologies....

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