Federal Reserve Governor Lael Brainard underscored the necessity for banks and regulatory bodies to proactively embrace emerging technologies, notably artificial intelligence (AI) and cryptocurrency, cautioning that failure to do so could diminish their economic clout. Speaking at the Wyoming Blockchain Symposium, Brainard declared, "Change has arrived." She advocated for regulators to foster the adoption of these technologies in ways that bolster the banking system. Brainard further warned that inaction could erode the banking system's linkages with consumers, businesses, and the broader economy.
