SEOUL: The Bank of Korea (BoK) and Internet giant Naver have unveiled an artificial intelligence (AI) model built exclusively for the central bank, marking what officials describe as the first deployment of an in-house AI model by a central bank anywhere in the world.
The system, dubbed Bank of Korea Intelligence, or Boki, operates entirely on the central bank’s internal on-premise network, distinguishing it from cloud-based or externally hosted AI tools used by other monetary authorities and ordinary people around the world.
“As one of the few countries capable of developing its own AI models, alongside the United States and China, South Korea places strong policy importance on fostering an ecosystem that supports the sustainable growth of its AI industry,” BoK governor Rhee Chang-yong said at a joint conference at the central bank’s headquarters in Seoul on Wednesday.
The homegrown platform represents a form of sovereign AI that strengthens South Korea’s technological autonomy and control over sensitive financial data, the BoK said.
“In this regard, the BoK’s collaboration with domestic tech firm Naver is expected to serve as a catalyst for strengthening the nation’s AI industry through public-private cooperation,” Rhee added.
Boki offers five core functions: research assistance, compliance support, document analysis, data analytics and translation of publications.
The BoK and Naver began developing Boki in 2024.
Under the partnership, the tech company provided cloud infrastructure and large language models, while the central bank focused on developing AI applications tailored to financial and economic analysis. — The Korea Herald/ANN
