Federal Reserve forms AI advisory groups for monetary policy

The United States Federal Reserve has announced the creation of five working groups designed to influence future monetary policy. A primary focus of these groups will be assessing the economic impact of generative artificial intelligence on productivity and employment.

Leading the Productivity and Employment team are Asha Sharma, CEO of Xbox at Microsoft; Charles I. Jones, an economics professor at Stanford University currently affiliated with Anthropic; and Marc Andreessen, co-founder of the venture capital firm Andreessen Horowitz. The group is tasked with evaluating how new general-purpose technologies, specifically AI, will affect the broader economy to support the Federal Reserve’s decision-making processes.