According to ChainCatcher, Federal Reserve Governor Bowman stated that banks and regulators must embrace the benefits of new technologies such as artificial intelligence and cryptocurrencies, or their economic role may be diminished. She pointed out that regulators should allow new uses to surge in ways that benefit the banking system and called on the industry to help regulators better understand the potential of blockchain and digital assets. Bowman also hinted that new rules may be developed to reduce regulatory scrutiny associated with reputation risk.