Name and Surname
Milo Ivančević
Affiliation
Faculty of Economics and Business, University of Belgrade
Contact email
miloivancevic@gmail.com
Short Biography
Milo Ivancevic is a PhD candidate at the Faculty of Economics and Business, University of Belgrade, specializing in market risk analysis through the application of Artificial Intelligence models. His doctoral journey includes research visits to Royal Holloway, University of London and University of Graz where he collaborated on advanced financial modeling techniques. With over 15 years of experience in quantitative research and financial risk management, he currently serves as a Senior Risk Manager at the Central Bank of Montenegro. His work includes monitoring risks of international reserves, designing frameworks for strategic asset allocation, and developing advanced risk models.
Milo holds an MSc in Economics from Staffordshire University, achieved through the prestigious Chevening/OSI scholarship and BA in Economics from the University of Montenegro. His expertise extends to data analysis, financial forecasting, and machine learning, with proficiency in tools like Python, Stata, and Bloomberg.
Milo is also an active member of Mensa and the UK Alumni Association of Montenegro, Milo is committed to advancing economic knowledge and fostering global collaborations. His career reflects a dedication to bridging the gap between academic research and practical applications in finance, ensuring stability and innovation in the field.
Research abstract
AI Adoption by Central Banks in the Western Balkans to Enhance Financial Stability
Digital transformation and its adoption in the Western Balkans face a number of different challenges, including limited technological infrastructure, economic constraints, and low digital literacy. Central banks, which play a crucial role in maintaining financial stability, are not immune to these challenges. Increasing digitization of financial services, particularly through Artificial Intelligence (AI), put significant pressure on the central banks in the region. Central banks must adapt to safeguard against systemic risks such as cybersecurity threats, economic fraud, and financial instability, by inclusion of AI solutions in their operations.
However, the current state of AI adoption in the region’s financial sector, especially by central banks, remains underexplored. In the context of the Western Balkans’ growing IT ecosystem and skilled workforce, there is a critical need to understand how AI could be harnessed to improve financial oversight and security. This research aims to fill this gap, by examining the Artificial Intelligence adoption patterns and readiness of Western Balkan central banks compared to more advanced economies, while providing concrete steps to enhance their digital transformation.