Atlanta’s Bostic concerned by ‘proliferation of models’
Regional Fed chief says more needs to be done to understand machine learning
The president of the Federal Reserve Bank of Atlanta is concerned at the potential for artificial intelligence (AI) to lead to a loss of diversity in markets, “which leaves us exposed in a way that we should all be concerned about”.
Raphael Bostic said on May 7 that it is important for the Fed to keep abreast of developments in the fast-changing field of machine learning, which feeds into the algorithms used in markets for decisions ranging from trading securities to extending credit. The
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