US Fed reveals its five use cases for generative AI
Internal sandbox used to assess viability and risks; coding and content generation on the agenda.
While commercial banks are actively exploring generative artificial intelligence (GenAI), the US Federal Reserve is also embracing the technology, identifying five primary internal use cases among a hundred or so experiments within its AI incubator, according to staff leading the project.
One of the standout uses of GenAI is its application in cleaning and processing terabytes of unstructured and multimodal datasets within the Fed system. This improves both accuracy and clarity of the datasets
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