Fed's vice chair is trying to ensure banks protect themselves from AI risks

Federal Reserve Vice Chair of Supervision Michelle Bowman is working to secure the banking system against AI-related risks, including a partnership with Visa and Mastercard to guard against cyberattacks, Yahoo Finance Fed Correspondent Jennifer Schonberger reported. The effort focuses on ensuring banks protect themselves from the risks of AI use.

Yahoo Finance Fed Correspondent Jennifer Schonberger joins Market Domination host Josh Lipton to report on the effort by Michelle Bowman, the Federal Reserve's vice chair of supervision, to secure the banking system against the risks of AI use, notably partnering with Visa V https://finance.yahoo.com/quote/V/ and MasterCard MA https://finance.yahoo.com/quote/MA/ to guard against cyberattacks.