Fed's Cook says A.I. rollout not deterred by business uncertainty

By Michael S. Derby

NEW YORK, Aug 6 (Reuters) - Federal Reserve Governor Lisa Cook said on Wednesday that the uncertainty holding back investment is not having the same impact on the rollout of artificial intelligence technologies.

“Certainly a lot of businesses report that they are frozen with respect to investment, especially with longer-term projects,” Cook said at an event held by the Federal Reserve Bank of Boston. But “they completely put that aside with respect to A.I.,” she said, adding that companies’ “A.I. rollout has been going as anticipated at the end of 2024.”