Executive summary 1

1. Introduction: the concept of AI readiness 2

2. Assessing readiness: central banks’ perceptions 3

3. Progress in AI readiness: advancing use, governance and implementation 5

4. Significant challenges amid rising risks 11

5. Advancing AI readiness in central banks: focus areas 15

 Box A: AI openness: benefits for central banks 16

Glossary 19

References 21

Annex 1: Survey on the use of AI in central banks 23

Annex 2: List of IFC jurisdictions responding to the survey 31