Brainard: Fed keeping open mind on AI regulation
Some rules already apply to AI tools, but Fed “still learning” about AI’s impact
The Federal Reserve is still learning about how AI (artificial intelligence) tools are being used in the financial sector, and is weighing how best to controls risks in the area, governor Lael Brainard said on November 13.
“When considering financial innovation of any type, our task is to facilitate an environment in which socially beneficial, responsible innovation can progress with appropriate mitigation of risk,” she told a conference in Philadelphia.
AI is increasingly posing a headache to
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