The Federal Reserve’s leadership seemingly views generative AI as a “super analyst” capable of turbocharging the agency’s work process.
Leaders at the United States Federal Reserve appear convinced that generative artificial intelligence (AI) tools will function as a “super analyst” for banks and the government — one capable of handling customer service duties for banks and replacing human programmers.
Sunayna Tuteja, the Federal Reserve’s chief innovation officer, recently spoke at the Chicago AI Week event in a fireside chat with Margaret Riley, SVP at the payments unit of the Fed’s financial services division.
The topic of discussion was “Advancing responsible AI Innovation at the Federal Reserve System.” According to a report from financial news and analysis outlet Risk.net, Tuteja and Riley discussed five use cases for generative AI being explored by the Fed: data cleansing, customer engagement, content generation, translating legacy code and enhancing operational efficiency.
