Fed’s Quarles: Artificial Intelligence in finance can help make bank credit

• Artificial intelligence in finance can help make bank credit more available
• Big data analysis can help financial stability
• Big data can also carry risks for banking system
• Machine learning via predictions may make big mistakes
• Fed uses machine learning tools for bank stress tests. 

Quarles has not made any comments on the economy are monitored policy.  There may be a question and answer session, however.