The Bank of Korea has established a generative artificial intelligence (AI) platform across its operations in cooperation with Naver. The Bank plans to use Naver’s AI technology to handle tasks such as document search and analysis. Some AI functions will also be made available to the general public within this year.

The Bank of Korea and Naver announced on the 21st at a “Joint AX Conference” that they are launching operation of “BOKI,” an AI service dedicated to the finance and economy sectors. The service has been built on the Bank’s internal network in consideration of central bank operations where security is critical. It was designed so that AI training and inference are completed within the closed network, blocking any leakage of core national data. According to the Bank of Korea, this is the first time among the world’s central banks that an in-house AI platform has been established.

For the development of BOKI, the Bank of Korea spent a year and a half digitizing its internal materials, installing Naver’s HyperCLOVA X model, and developing applications (apps) for each AI service. Bank of Korea executives and staff can use BOKI to request Q&A on research materials, comparative analysis of documents, and methods of data analysis. The Bank also plans to introduce AI functions within this year to the “ECOS (Economic Statistics System),” the Bank of Korea’s website that is open to all users. Governor Rhee Chang-yong stated, “Once the network separation improvements are completed in March, the scope and performance of AI utilization will be greatly enhanced.”

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