Federal Reserve Board Governor Waller outlines System-first rollout of internal AI tools across the Reserve Banks

In a speech, Federal Reserve Board Governor Christopher J. Waller described how the Federal Reserve is operationalizing artificial intelligence by shifting from a Reserve Bank-by-Reserve Bank technology model to a more coordinated “System-first” approach. Speaking in his capacity as oversight governor for the 12 Reserve Banks, he framed the change as a move to shared standards and infrastructure for critical operations, with AI deployed under clear guardrails for security, model risk, bias, data protection, and operational resilience. The approach centers on three deployment paths: broad access to Fed-approved general-purpose AI for employees to draft, summarize, and analyze information; specialized tools for developers, including coding assistants used across the software development life cycle (with examples such as unit testing work compressed from days to hours); and embedded AI capabilities within existing enterprise platforms used by functions such as legal, risk, procurement, and operations. Waller also described AI-enabled analysis of qualitative outreach information to more quickly surface themes across interview notes and regions, while keeping human judgment responsible for decisions. To make adoption durable, the System is pairing tools with training and accountability, including role-relevant upskilling on paid time and incorporating baseline AI literacy and application into employee performance goals, with the expectation that AI use becomes part of day-to-day work rather than isolated experimentation.