The US Federal Reserve is exploring the use of generative artificial intelligence (AI) tools as a "super analyst" for banks and the government. The Fed's Chief Innovation Officer, Sunayna Tuteja, recently discussed five potential use cases for AI: data cleansing, customer engagement, content generation, translating legacy code, and enhancing operational efficiency. However, Tuteja and her colleague, Margaret Riley, emphasized that these applications are still exploratory and come with limitations. They also highlighted the potential risks of not implementing AI, arguing that inaction could be more detrimental than action.