Policy-makers should shun ‘black box AIs’, Fed’s Cook warns

Lisa Cook
Lisa Cook
US Senate Banking Committee

Monetary policy-makers should not rely on “black box” artificial intelligence (AI) models, US Federal Reserve governor Lisa Cook said on September 22.

Cook also noted AI could displace employment but raise productivity levels, changing the context that economic decision-makers work in.

Society seems to be headed towards widespread artificial intelligence usage, Cook told a National Bureau of Economic Research conference in Toronto, Canada. She pointed to estimates that “80% of the US workforce

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account