Fed’s Bowman Says Tailored AI Supervision Drives Financial Inclusion

Federal Reserve supervision should not hinder banks’ implementation of artificial intelligence (AI), because the technology can contribute to financial inclusion, Federal Reserve Vice Chair for Supervision Michelle W. In a speech delivered via pre-recorded video to the Fed’s Financial Inclusion Conference , Bowman said AI can expand the availability of credit to those who are unbanked or underbanked by enabling financial institutions to further refine their underst