Remarks by Lael Brainard Member Board of Governors of the Federal Reserve System at Fintech and the New Financial Landscape Hosted by the Federal Reserve Bank of Philadelphia, the Federal Deposit Insurance Corporation, University of Pennsylvania Wharton School of Business, Bank Policy Institute, and Brookings Institution  Philadelphia, Pennsylvania  November 13, 2018  -1Although it is still early days, it is already evident that the application of artificial intelligence (AI) in financial services is potentially quite important and merits our attention.
Through our Fintech working group, we are working across the Federal Reserve System to take a deliberate approach to understanding the potential implications of AI for financial services, particularly as they relate to our responsibilities. In light of the potential importance of AI, we are seeking to learn from industry, banks, consumer advocates, researchers, and others, including through today’s conference.