Event Details

The Economics Department are delighted to host this event

In this lecture, Michele Lenza will explain how AI is currently helping improve monetary policy in two main ways: first, by detecting complex patterns that traditional methods might miss, and second, by allowing economists to analyse new types of information, such as text, audio, and video. He will then share two real-world examples from his own research that illustrate these points. The first example is an AI model now used by the European Central Bank (ECB) to forecast inflation as it happens. The second example shows a new method for analysing central bank texts using Natural Language Processing and advanced AI tools to gain insights for policy decisions.