The Board of the Bank for International Settlements (BIS) approved the establishment of a BIS Innovation Hub to foster international collaboration on innovative financial technology within the central banking community complementing the already well established cooperation within the existing committees. The role of the Hub will be to identify and develop in-depth insights into critical trends in technology affecting central banking; develop public goods in the technology space geared towards improving the functioning of the global financial system; and serve as a focal point for a network of central bank experts on innovation.

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Delivering on its strategy on artificial intelligence adopted in April 2018, the Commission presented a coordinated plan prepared with Member States to foster the development and use of artificial intelligence in Europe. This plan proposes joint actions for closer and more efficient cooperation between Member States, Norway, Switzerland and the Commission in four key areas: increasing investment, making more data available, fostering talent and ensuring trust. Stronger coordination is essential for Europe to become the world-leading region for developing and deploying cutting-edge, ethical and secure artificial intelligence.
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