Supporting Responsible Use Of AI And Equitable Outcomes In Financial Services â Federal Reserve Governor Lael Brainard At The AI Academic Symposium Hosted By The Board Of Governors Of The Federal Reserve System, Washington, D.C. (Virtual Event) Date
12/01/2021
Today s symposium on the use of artificial intelligence (AI) in financial services is part of the Federal Reserve s broader effort to understand AI s application to financial services, assess methods for managing risks arising from this technology, and determine where banking regulators can support responsible use of AI and equitable outcomes by improving supervisory clarity.1
The potential scope of AI applications is wide ranging. For instance, researchers are turning to AI to help analyze climate change, one of the central challenges of our time. With nonlinearities and tipping points, climate change is highly complex, and quantification for risk assessments requires the analysis of vast amounts of data, a task
The Disordered Mind Theory of Mental Illness
In a series of articles and books over the past decade, the philosopher George Graham develops a theory of mental disorder with the following qualities: 1. is non-reductionist with respect to the mind and the brain; 2. is informed by the philosophy of mind; and 3. coheres with the experiences of patients and clinicians. Grahamâs theory holds that mental illness is distinct from somatic/bodily illness though may co-occur or otherwise be bound up with so-called broken brains. A helpful analogy for what is meant here by âthe mentalâ or âthe mindâ is to view the brain as computer hardware, whereas the mind is software. On this picture, the mind and the brain are surely not independent; a hardware issue may impede the computation of some software. However, one may have bugs in oneâs software - âgumming up the worksâ to use a common phrase of Graham - on perfectly functioning hardware.