Against this backdrop, central banks are facing a challenge that few would have imagined a decade ago. This reality was evident during the 31st Executives’ Meeting of East Asia-Pacific Central Banks (EMEAP) Governors’ Meeting held in Singapore on July 23, 2026. They also explored ways AI could augment the work of central banks while maintaining appropriate safeguards. The discussions in Singapore suggest that Asia’s central banks understand the magnitude of this challenge. Across the region, central banks are working to establish the guardrails that will determine how AI functions within the financial system.