On 5 July 2024, the Bank of England (BoE) published a 3-year roadmap for implementing its refreshed data and analytics (D&A) strategy, along with a summary of recent progress. The BoE’s Executive Director for Data and Analytics Transformation and Chief Data Officer, James Benford, also delivered a speech on topic at the Financial Conduct Authority Data innovation for Future of Regulation conference.
The BoE published an overview of its planned approach to refreshing the D&A strategy in October 2023, in response to a report by the Independent Evaluation Office (IEO), and committed at that stage to publishing a 3-year implementation roadmap.
The BoE explains in the roadmap that its updated D&A strategy is intended to make it easy for everyone at the BoE to work with and analyse data, bridge data gaps to maximise the value of the data it collects, acquires and shares, and enable safe and effective innovation, including use of artificial intelligence (AI). It notes that good
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