US Federal Reserve Governor Michelle Bowman has issued a warning about the growing importance of artificial intelligence (AI) and cryptocurrencies in the financial sector. According to her prepared remarks at the Wyoming Blockchain Symposium, banks and regulators must adapt to these new technologies or risk becoming less relevant to consumers, businesses, and the economy.
Bowman emphasized that the goal is for regulators to allow AI and crypto innovations to “proliferate in a way that benefits the banking system.” Failure to do so could lead to a diminished role for traditional banks. This highlights the need for the financial industry to stay ahead of technological advancements and find ways to work with emerging trends rather than resisting them.
Source: https://www.bloomberg.com/news/articles/2025-08-19/bowman-says-change-is-coming-to-how-fed-views-ai-and-crypto