🤖 AI to the rescue! The US Federal Reserve is eyeing generative AI as a "super analyst" for banks and the government. Sunayna Tuteja, the Fed's CIO, and Margaret Riley, SVP at the Fed's payments unit, discussed five potential use cases for AI at the Chicago AI Week event. These include data cleansing, customer engagement, content generation, translating legacy code, and enhancing operational efficiency. But hold your horses! They also warned that AI has its limitations and the use cases are still exploratory. However, Tuteja emphasized that the risk of inaction might be greater than the risk of action. So, buckle up for an AI-powered future!