Federal Reserve Vice Chairman Michelle Bauman said that lenders should be allowed to independently decide when to adopt new technologies such as artificial intelligence. Bauman proposed that the Federal Reserve should “set clear regulatory expectations, maintain policy transparency, and not microcontrol the individual management decisions of enterprises related to innovation.” Federal Reserve Governor Michael Barr said that it is still uncertain whether artificial intelligence will reduce or increase income and wealth inequalities; the future trend of the division between the rich and the poor depends on how humans use artificial intelligence technology.

Federal Reserve Vice Chairman Michelle Bauman said that lenders should be allowed to independently decide when to adopt new technologies such as artificial intelligence. Bauman proposed that the Federal Reserve should “set clear regulatory expectations, maintain policy transparency, and not microcontrol the individual management decisions of enterprises related to innovation.” Federal Reserve Governor Michael Barr said that it is still uncertain whether artificial intelligence will reduce or increase income and wealth inequalities; the future trend of the division between the rich and the poor depends on how humans use artificial intelligence technology.