Federal Reserve Board Member Waller: The Federal Reserve is cautiously advancing the full-system application of AI technology

SmartContractAuditor · 2026-02-24T15:01:22+00:00

Federal Reserve Board Member Waller stated at a conference in Boston that the Federal Reserve should exercise caution when adopting artificial intelligence technology, requiring clear restrictions, strong information security controls, and rigorous model validation. He emphasized that innovation and risk management should go hand in hand. Although the Federal Reserve is decentralized, it continues to promote AI technology in a unified manner.

SmartContractAuditor

2026-02-24 15:01:22

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Odaily Planet Daily reports that Federal Reserve Board Governor Waller stated that the Federal Reserve is cautiously advancing the adoption of artificial intelligence technology across the entire system. Waller said at a meeting held by the Boston Federal Reserve Bank, “We cannot treat AI casually, and as a central bank, we hold high standards when using this technology.” He indicated that for the Fed’s use of AI, “it means setting clear restrictions on its application and usage areas, implementing strong information security controls, rigorous model validation, human accountability for decisions, and ongoing assessment as technology develops. Innovation and risk management are parallel and complementary priorities.” Although the Federal Reserve is a highly decentralized organization, it is adopting a more unified approach to implementing AI technology. Waller did not comment on economic and monetary policy prospects in his prepared speech. (Jin10)

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