Fed’s Michael Barr Warns AI Could Trigger Financial Risks — Calls for ‘Strong Guardrails’ as Banks Rush to Adopt Tech
Fed Governor Cautions Against Unchecked AI in Banking
Federal Reserve Governor Michael Barr has urged global regulators to put clear guardrails in place as the financial sector rapidly adopts artificial intelligence (AI) in its operations. Speaking at the Singapore FinTech Festival, Barr warned that while AI has the power to