Russia's Central Bank Tests Data Exchange for AI Development

In a significant move, the Bank of Russia has partnered with a major domestic bank to test the exchange of data for the development of artificial intelligence models, anti-fraud systems, and risk assessment tools. According to reports, the testing is taking place within the central bank's regulatory sandbox. The Bank of Russia's AI Expertise Center head, Anton Stepanov, revealed the collaboration during a roundtable discussion at the Federation Council, focused on AI law enforcement. Stepanov noted that the central bank will consider market feedback in preparing regulations for trusted intermediaries. A Bank of Russia representative confirmed that the testing is ongoing within the regulatory sandbox, but declined to disclose project details at this pilot stage. The representative also recalled the central bank's 2025 proposal to create trusted data exchange platforms, which received support from financial market participants. As the central bank moves forward with regulating trusted intermediaries, it will take into account the market's opinion. The identity of the participating bank has not been disclosed, with several major banks contacted for comment, including Sberbank, T-Bank, and Gazprombank. The development highlights the Bank of Russia's efforts to harness data exchange for innovative technologies, with potential implications for the country's financial sector.