four joint - stock reinsurance companies, but also fintech companies that work closely with these financial service providers. the financial sector uses blockchain technology / dlt, artificial intelligence, machine learning, cloud, big data. ten banks in serbia already use artificial intelligence and five plan to use in the future. of those already using it, six banks plan to step up the application of ai in their business processes. serbian banks mostly apply ai in the following areas : predictive analytics ( seven banks ), robotic process automation ( six banks ), machine learning ( four banks ) and real time analytics ( three banks ). we at the national bank do not lag either. we use the tools predictive analytics and machine learning in our early warning system which predicts the likelihood of troubles in banks by using machine learning techniques ( self - organising maps and lasso logistic regression ). we thereby monitor bank riskiness from the aspect of likelihood of the occurrence of any difficulties in their operation. within the ips system there is a fraud management module, which ensures a mechanism for detecting fraud. machine learning is used to assess the macroeconomic environment when validating scenarios for stress testing of the banking sector, but also as a supporting tool when projecting the reference guide for the countercyclical capital buffer rate. the tools real time analytics, video / image analytics, robotic process automation are also used at the national bank for the purposes of monitoring some processes, preparation for printing, image processing, and automation of production processes. having in mind that the primary objective of the national bank of serbia is to maintain price stability, as well as the fact that the statistical office publishes the cpi, as the main measure of inflation, on 2 / 4 bis - central bankers'speeches the 12th day of a month for the previous month, we have developed a model that enables inflation nowcasting in real time. based on web scraping, i. e. automatic downloading of prices from web stores, the model gives us insight into inflation movements even before the release of official data. the comprehensive method of inflation nowcasting based on web scraping has been applied since march 2022. following continuous improvements and expansion of the scope of products and prices, our latest inflation nowcast included 30 databases with data from over 130 different websites and prices for over 30, 000 products. the prices are automatically " scraped " using the codes created in - house by using available software. in collecting data, we include all data sources that may contribute

as of the next year financial institutions will have to disclose earnings of all members of their management and executive boards in their annual reports, b ) when the nbs provides financial support to such institutions, this will not only result in cutting wages of members of management boards ( german example ), but will also set the scene for their dismissal, and c ) we have strengthened significantly the role of internal audit in all financial institutions within the remit of the nbs. all of the above topics, such as transparency, responsible operations, provision of information and education, can be grouped under one common heading “ socially responsible behaviour ” and will be of key importance for the recovery of financial markets both in the west and in serbia. banks and financial institutions will have to take full responsibility for their products and services because i feel quite certain that the generous financial packages now offered by governments and central banks will undeniably cease in the near future. and they ought to cease. otherwise, it will be clear that we have learnt nothing from the past few weeks and that we lack social responsibility.