The Province Bank presented an innovative automated system to advance data related to economic activitywhich are usually published with a two -month lag in the official indicators. According to its first estimates, The economy contracted 0.4% in the last four weeksgiven the volatility in the price of the dollar and interest rates.
“The data reflects a continuity in the stagnation observed since Mayin a context marked by the volatility of interest rates and the hardening of monetary policy, which especially affects credit, “they explained from the state financial entity.
It is worth noting that, during this same day, Indec just reported its monthly Economic Activity Estimator (EMAE) of Junewhich threw a monthly contraction of 0.7%. Consequently, The data of the desestationalized series was the second lowest since November 2024.
The new tool in the province will seek to anticipate the official data two months. While measuring provincial data, its members assured that, as it is the jurisdiction with greater weight in the national economy, it can be a good advance of the EMAE.
The province bank launched Pulsopba, an innovative system built with AI
From a work together with the Federal Investment Council (ICC), the Ministry of Economy of the Province of Buenos Aires (PBA) and the Institute of Computer Science of the University of Buenos Aires, the Bank announced Pulsopba, a tool designed with the Objective of weekly information about the economic activity of the largest district in the country.
From the bank they affirmed that it is an “constantly training automated system” and not a simple indicator. This system processes, through artificial intelligence (AI), 1,200 variables On loans, consumption, foreign trade and payments, among other transactions, generated by the bank since 2013 and combined with official data. From there, It seeks to find the model that best predicts the dynamics of the activity; that is, the one who is going to throw the least errors Throughout the different tests.
As explained by the creators of Pulsopba, the objective is to predict economic activity respecting the structure of the official publications of the National EMAE and the monthly activity estimator of the province (Emapba), in order to reduce the uncertainty linked to the lag of these indicators.
Pulsopba launch occurred with a panel composed of the Minister of Economy, Pablo López, the president of the Province Bank, Juan Cuattromoand Mariano Beltrani, Chief Economist of Bank Province.
Cuattrome emphasized the different axes that mark the work of the bank, which are innovation, closeness and inclusion. In that sense, he stressed that “PBA pulse is a tool to improve decision -making and promote financial inclusion throughout the province. Buenos Aires public banks is not exhausted in the financial transaction, “he said.
López also highlighted the importance of “having information for decision making.” “Quality information is essential for public management, especially when the National Government felled areas linked to the production of knowledge in science and technology,” he said.
For his part, Beltrani said that “for the first time, a province has an indicator that allows to see in real time how its economy evolves.”
Source: Ambito
