in a controlled way. so, while it is clear to me that central banks and supervisors must seize the opportunities offered by ai, the question is : how do we do that? it seems to me that we must first lay down a fundamental principle of governance : ai must be at the service of humanity and society, and not the other way around. this calls for the adoption of a minimum set of safeguards which central banks could support, to channel the development of ai use cases. from this perspective, even if it does not solve all the problems, the recent adoption of the european ai act, the world's first binding text laying down the principles of " trustworthy ai ", is from my perspective a welcome step. this governance principle should be supplemented by three operational principles as far as our own usage of ai is concerned. first, using ai proportionately and progressively. with a simple rule : the more critical the use case for our activity, the more we have to do it ourselves. second, experimenting without delay, even with simple use cases, to find the right way of integrating ai into our activity, the tasks performed by our staffs. in my view, it should be done so as to mostly support them, leading to an " augmented agent " rather than a " substituted agent " vision of its impact on staff contribution. indeed, we can expect ai to 3 / 4 bis - central bankers'speeches significantly reshape the patterns of human - machine interactions. finding the right combinations will encourage the adoption of the new tools, by winning the buy - in of users, which is a crucial issue. third, collaborate with others, to share best operational practices and to build a coherent ai supervision framework. in this field, cooperation should be cross - sectoral : we need to cooperate with authorities in other sectors, especially competition, cyber security, fundamental rights and even the green transition, as ai - related concerns are largely interconnected. cooperation should also be, of course, international, because airelated issues are by their very nature global. in this area, while there may be nuances in terms of how to proceed, i note above all that many jurisdictions are expressing similar concerns, which should enable international cooperation to move forward. in my view, these different forms of cooperation are an essential condition if we are to contribute to the emergence of the most relevant and resilient technologies in the financial sector, in the direction of the general interest. 4 / 4 bis - central

barry whiteside : promoting money managerial skills in fiji address by mr barry whiteside, governor of the reserve bank of fiji, at the “ be money wi $ e ” essay competition awards ceremony, suva, 20 march 2015. * * * distinguished guests colleagues ladies and gentlemen and most importantly our essay winners – sakshi prayatna ( lautoka andhra sangam college ), divneeta devi ( tavua college ) and upasna chand ( ahmadiyya muslim college ), who are present here today along with their proud school principals and parents. introductory comments a very warm welcome to you all. i am delighted to be present here with you all, to award and recognise the efforts of our winning students for this important initiative – the “ be money wi $ e ” ( bmw ) essay competition. i am also grateful for the support of the school principals, teachers and parents of these students. congratulations to our winners firstly, congratulations to our three winners who have travelled all the way from lautoka and tavua and from nearby nasinu with their teachers and parents. you have come out on top of 224 other students who are your peers and i know that this must be a proud moment for you. background this essay competition was launched last december, as one of the activities under the “ be money wi $ e ” ( bmw ) program, with the theme “ be money wise – securing your future goals today ”. the bmw program is part of the capital markets awareness platform, targeting school students. its objective is to promote the importance of acquiring good money management skills with a particular focus on understanding the concept of investing and investment products available in fiji. the program has been designed to teach our children “ money smart ” principles by using creative fun - filled activities which we envision that, in time, will lead to the development of a culture of financial prudence in our children, preparing them well for their adult working life. from the essays that were submitted, it was good to note that many students appreciate the importance of saving towards future goals. it was also great to note that students are now able to identify with the capital markets, ( an area still viewed as highly technical by many ). i am confident that activities like this competition will help create a culture of learning and information sharing amongst our students, teachers, parents and will help enlighten the nation as a whole on the products and services available in our very own capital markets. building on the success