The Ministry of Finance allowed the use of artificial intelligence in budgeting

Ivan Chebeskov, director of the financial policy department of the Ministry of Finance of the Russian Federation, admitted that in the future artificial intelligence could be used in the formation of the base budget. According to him, such tools can be used in the work of the Ministry of Finance.

“If we fantasize a little on the topic of artificial intelligence, it will be possible to imagine that some basic budget forecasts and the formation of a basic budget can, in principle, be made by algorithms based on the tasks that will be set. It is clear that this is such an entity that cannot be completely devoted to automation, but, nevertheless, all these tools can be used in the work of the Ministry of Finance, ”he said at the Kommersant conference. “Fintech in a new coordinate system”.

Also, Mr. Chebeskov sees the prospects for using the digital ruble. “We see big pluses in terms of the budget process. It is clear that we are talking about the prospect of several years, until the digital ruble will work and will be able to use smart contracts that can be used in the budget process. We see great prospects and opportunities in terms of tracking budget money that is spent for certain purposes, it becomes just a matter of the algorithm,” said the head of the department of the Ministry of Finance.