a possible solution for processing individual data. 4 the bank of italy has begun experimenting with these technologies. see'calibrating noise to sensitivity in private data analysis ’, cynthia dwork frank mcsherry, kobbi nissim, 2006. see ‘ a fully homomorphic encryption scheme ’, craig gentry, 2009. it is important to note that there is no one - size - fits - all approach to data ethics. the specific ethical considerations will vary depending on the type of data being collected and used, the purpose for which it is being used, and the potential impact on individuals and society. looking ahead as we are nearing the conclusion of this workshop, let us bear in mind that our journey with data science in central banking has just begun. the knowledge and skills we have acquired here are tools that we can wield to drive innovation and excellence in our institutions. it is our responsibility to apply what we ’ ve learned, adapt to the everevolving landscape of technology and data, and lead the way in shaping the future of central banking. i encourage all of you to stay connected, collaborate, and continue the dialogue beyond this workshop. the relationships we have built here can be the foundation for future partnerships and collaborations that will drive progress in our field. the bank of italy is firmly committed to carrying out further research on these issues and cooperating with other institutions to strengthen methodologies and applications. finally, let us not forget the significance of our work. central banking plays a key role in the stability and prosperity of our countries. data science can help us navigate the complex waters of modern finance. together, we can steer our institutions toward greater resilience, transparency, and effectiveness. we have had the privilege of learning from distinguished experts and practitioners in the field, who have shared their knowledge, experiences, and insights. these interactions have enriched our perspectives and deepened our understanding of the intricate relationship between data science and central banking. i would like to extend my heartfelt gratitude to all the speakers, instructors, and organizers who have made this workshop a resounding success. thank you all for your dedication, your commitment, and your thirst for knowledge. it has been an honour and a privilege for me to be a part of this workshop with you. i wish you all continued success in your endeavours, and may the insights gained here guide us toward a brighter future in our profession.

- ticket investments in the areas of transportation, water, urban development and renewal, information and communications technology, and power. bsp closer to the people i have always said that a central bank cannot operate from an ivory tower. it is imperative that our stakeholders understand what we are mandated to do. and today, more than ever, the bsp is committed to bringing the benefits of central banking closer to all filipinos through more inclusive policies. we are now setting our sights on digital innovations as we pursue one of our most important advocacies, financial inclusion. digital solutions present opportunities for cost savings and efficiency gains that make the economics of serving the marginalized sector of our economy viable. these innovations will fill the financial services needs of the unserved and underserved markets on a broader scale. our partnerships with the department of education, the overseas workers welfare administration, the armed forces of the philippines, and the civil service commission, allow the bsp to reach broader and more diverse audiences through financial learning. in many of these partnerships, we also work with the private sector in customizing our programs to the needs of our stakeholders. 2 / 4 bis central bankers'speeches we support initiatives that would make it easier for filipinos to have the necessary requirements to apply for new bank accounts or financial services. the bsp is currently collaborating with the philippine statistics authority to implement the philippine id system. under the agreement, the bsp will produce 116 million pieces of cards over the next three years. filipinos, especially the unbanked, will be able to easily obtain a valid government id card, which they can use to apply for bank accounts and other financial services. the bsp is also actively exploring regtech and suptech solutions to enhance the timeliness and quality of our risk - based decision making. we have partnered with r2a or the regtech for regulators accelerator, a pioneering project that provides technical assistance for financial sector regulators to develop and test the next generation of digital supervision tools and techniques. as we recognize the impact of uncertainties, we are aware of the potential effect of climate and environment - related risks to the local and global economy. at bsp, we have incorporated climate and disaster - related data in monetary policy analysis, forecasting, monitoring, and risk assessment. we have issued regulations on corporate and risk governance, including stress testing and regulatory reliefs provided to banks affected by natural calamities. we put our money where our mouth is. consequently, the bs