Mary Daly

We also support Vice Chair Bowman in supervision.

of banks and all of those things are, and then we have all of our support people who help make sure that that occurs.

All of that can be easily, if you can do AI and you can use it, you can think of opportunities.

So the next thing we did, get our workforce ready is number one.

Next thing you do is, and this is again, like all the businesses we talked to, you see what your vendors are already offering, right?

If you have a technology vendor, an accounting vendor, an HR vendor,

And then you just turn the service on.

But if you turn the service on before your team is ready, you don't really get an ROI out of it.

So again, fiduciary stewards of public funds, we have to make sure.

So we're all still in this ring-fenced proprietary environment because the public has to know that we're not introducing risk to this.

And then, of course, the place we're working now is where many, many people are working, which is if you have a lot of technology workers, then the coding assist

is just so important.

And one of the things, back to workforce, it doesn't create a massive change in who you have working for you.

What it means is they can do their work faster, better, and more effectively.

And if you think of the three principles of the Fed, we need to be efficient, effective, and resilient.

So it also builds in that resilience for us, because we have quality assurance.

unit testing, all the things that can slow you down if you're not right or interrupt your ability to serve, those things can all be assisted with AI in a really positive way.

So again, not monetary policy, but definitely, like all other companies who are working on this space, making sure we're not behind in delivering good value for, I mean, the shareholders of the Fed are the American people, and we owe them

the effort to make sure we're modernizing ourselves and keeping up with the things that can help us do our work faster, better, and more effectively.

Yeah, and I think that really it's important to recognize that monetary policy is a forward-looking business, but it's also an evidence-based business.