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RBA Pilots RBAPubChat to Sharpen Forecasts and Research

Governor Michele Bullock says the tool supports staff judgment, not policy decisions.

Overview

  • The internal chatbot draws on nearly 20,000 RBA analytical documents to synthesize decades of institutional knowledge for researchers.
  • It leverages more than 22,000 conversations with businesses to pull clearer, faster insights on current economic conditions.
  • The bank is expanding use of machine learning and granular datasets to build close-to-real-time indicators on inflation, jobs and household stress.
  • Leaders emphasize that AI-assisted analysis informs briefings yet does not formulate monetary policy or other decisions.
  • Bullock says AI is likely to reshape roles and displace some workers and she urges government investment in training as the cash rate sits at 3.6% with the next decision due on September 30.