FSOC and the Brookings Institution Host a Conference on Artificial Intelligence and Financial Stability

WASHINGTON – Today the Financial Stability Oversight Council (FSOC), in partnership with the Brookings Institution, hosted the first day of a conference on Artificial Intelligence (AI) and Financial Stability. This conference brought together public and private sector participants to discuss the evolving role of AI in the financial system and the potential implications for U.S. financial stability.In her keynote address, Secretary of the Treasury Janet L. Yellen highlighted opportunities and risks in the financial sector associated with AI. She noted that AI, “when used appropriately, can improve efficiency, accuracy, and access to financial products.” She also stated the “Council’s new Analytic Framework, published last November, provides helpful insights into the range of potential risks that AI can pose to the financial system.