Fed Chair Powell Describes AI as a Better Version of a Person, Highlights Its Potential Impact

Federal Reserve Chair Jerome Powell characterized artificial intelligence (AI) as more than just an advanced search engine like Google, describing it instead as a "better version of a person." Speaking at a lunch in Chicago, Powell emphasized AI's potential to bring dramatic changes to productivity and living standards, though he acknowledged uncertainty about whether AI will primarily enhance productivity or replace many jobs. He highlighted AI's capability to perform remarkable tasks, indicating its transformative impact on technology and the economy.