Federal Reserve Governor Christopher Waller said ⁠on ⁠Tuesday that the central bank is taking a unified approach to implementing artificial intelligence (AI) technology, despite the Fed being a highly decentralized organization.

"We’re moving as one system, with shared direction and alignment,” Waller said.

In terms of deciding where to deploy the technology, “we start with the problem to be solved and the business need, then apply the right capability” from the suite of available AI technology, he said.

Waller noted that the more ⁠centralized approach to AI comes amid a broader push to align activities at the 12 quasi-private regional banks with the goals of the Federal Reserve system as a whole.

The Fed's approach to AI deployment includes: system-wide adoption, general-purpose AI for all employees, embedded capabilities within enterprise workflows. These efforts reflect the Fed's commitment to leveraging AI technology to improve operational efficiency and address the challenges posed by technological change.