Bank of England Outlines Strategy for AI, DLT and Quantum Computing

The Bank of England has released a strategy detailing its priorities across artificial intelligence (AI), distributed ledger technology (DLT), and quantum computing. The central bank described these as cross-cutting technologies with the greatest potential to transform the UK economy and financial services.

The document highlights the rapid expansion of AI use across the financial sector, with most firms already adopting the technology or planning to do so within three years. The Bank has established an AI Consortium, co-chaired with the Financial Conduct Authority, to engage with experts on the safe and effective use of AI. Internally, the Bank is deploying AI tools for data analysis, summarisation, and code generation, and exploring large language models to support supervisory work.

In distributed ledger technology, the Bank is continuing its collaboration with the Bank for International Settlements through projects such as Project Meridian and Project Agorá. It has also launched a DLT Innovation Challenge and is working on enabling interoperability between its real-time gross settlement system and external ledgers. A synchronisation lab is scheduled to open in 2026 to test real-world use cases.

On quantum computing, the Bank notes that capabilities remain in early development but could eventually address computational problems beyond current systems. It is assessing quantum readiness across the financial sector, developing risk scenarios for post-quantum threats, and coordinating with domestic and international partners, including the G7 and national cybersecurity agencies, to plan for future impacts on financial stability and regulation.