Russia’s Central Bank Issues AI Code of Conduct for Financial Sector

A new set of AI guidelines from the Bank of Russia instructs financial institutions on ethical, secure, and transparent use of artificial intelligence.

The Central Bank of Russia has published a code of recommendations for financial organizations, outlining best practices for the responsible use of artificial intelligence in banking operations.

The document covers key ethical and security principles. It urges banks to disclose when customers are interacting with AI systems, and to offer a human alternative to automated assistants whenever possible.

Financial institutions are also advised to conduct regular audits of their AI-driven systems to ensure functionality and safety. Special emphasis is placed on protecting customer data privacy and complying with data protection laws.

The code follows ongoing discussions in Russia about AI’s impact on the workforce. Experts have predicted that certain roles—like call center operators—could disappear in the coming years, while professions in medicine, law, and science will still require human oversight. Experts stress that trained professionals will be needed to validate the decisions made by AI.

Meanwhile, AI continues to evolve rapidly in Russia. Some specialists predict that neural networks may soon be capable of generating macroeconomic forecasts—including predictions about Russia’s key interest rate decisions.