What Are We Learning about Artificial Intelligence in Financial Services?
Speech by Lael Brainard, Governor (Board of Governors of the Federal Reserve System). A speech or remarks are the speaker’s, not the Board of Governors of the Federal Reserve System’s policy unless its own text says so. Dated 2018-11-13. Occasion: Fintech and the New Financial Landscape, Philadelphia, Pennsylvania.
- Issued by
- No issuing record yet. A missing record is a gap in coverage.
- Authors credited
- No authorship claim recorded yet. The source record lists Lael Brainard.
- Dates
- No date claim recorded yet. The source record gives the publication date as 2018-11-13.
- Exact source
- What Are We Learning about Artificial Intelligence in Financial Services? Board of Governors of the Federal Reserve System · published 2018-11-13 · Retrieved for the candidate pack on 2026-11-02 (SHA-256 01494b9bbb20187796c78b884b4b8e71d7e78f2dac461d07bfe960248645f0c0). Retrieved again at admission on 2026-11-06 (SHA-256 c7b046d4199a6f37199c8da4cc3c7bc2d262915a28af0ce43e0e7cfe5affe8e3; web pages are served with new markup on each request). HTML speech page as served on 2026-11-02 (page states last update November 13, 2018)
Appears in
- AI and money: what central banks and financial authorities have said, 1997–2026 →4 records on this document
Versions
No other versions of this document are recorded. The evidence applies to the source version listed above. Other versions, such as a preprint, working paper or journal publication, are not identified or substituted.
Documentary relations
Each relation is listed separately. Citing, crediting and reporting the use of a method are different acts, and none of them shows agreement or influence by itself.
Articulates · 4
Propositions whose criterion a passage of this document meets. The record says what the text states, in its register; it is not evidence that the proposition is true.
- AI increases cyber, fraud and operational risks in financeIn a speech of 13 November 2018, Lael Brainard, then a member of the Board of Governors of the Federal Reserve System, said that AI tools could in future be used to make internet fraud and phishing highly personalized, and that supervised institutions may need their own AI tools to combat outside AI-powered threats.2018-11-13 · event · Stated in source · Supported Inspect claim & evidence ↗AI increases cyber, fraud and operational risks in finance: propositions page →
- The opacity of AI models complicates risk management and supervisionIn a speech of 13 November 2018, Lael Brainard, then a member of the Board of Governors of the Federal Reserve System, said that many AI tools and models arrive at conclusions that may be hard to explain and that the challenge of explainability can translate into higher uncertainty about the suitability of an AI approach.2018-11-13 · event · Stated in source · Supported Inspect claim & evidence ↗The opacity of AI models complicates risk management and supervision: propositions page →
- Supervisors should use AIIn a speech of 13 November 2018, Lael Brainard, then a member of the Board of Governors of the Federal Reserve System, said in a footnote that AI tools are likely to be useful for central banks and regulators in their responsibilities for supervision, financial stability and monetary policy, citing the FSB’s 2017 report on uses ranging from systemic risk identification to detecting fraud and money laundering.2018-11-13 · event · Stated in source · Supported Inspect claim & evidence ↗Supervisors should use AI: propositions page →
- Existing financial rules broadly cover AIIn a speech of 13 November 2018, Lael Brainard, then a member of the Board of Governors of the Federal Reserve System, said that existing regulatory and supervisory guardrails are a good place to start in assessing the approach to AI, naming the Federal Reserve’s model risk management guidance (SR 11-7) and vendor risk management guidance as relevant to AI tools.2018-11-13 · event · Stated in source · Supported Inspect claim & evidence ↗Existing financial rules broadly cover AI: propositions page →
Not recorded for this document: cites · cited by · explicitly credits · reports using a method from · method reported as used by · applies parts of · parts applied by · discusses · reports evaluation of. A missing record does not show that the relation does not exist.