Xbox CEO Asha Sharma Advises Federal Reserve on AI's Economic Impact

The Federal Reserve has called on Xbox CEO Asha Sharma to help assess the economic impact of new technologies, including AI, as part of a 'Productivity and Jobs' taskforce.

Sharma, who recently took over as head of Microsoft's gaming business, has been appointed to a task force alongside other notable figures. This move follows a restructuring within Xbox that involved significant job cuts and studio departures. Despite the importance of AI in tech jobs, Sharma decided to discontinue Microsoft's AI tool Copilot for gaming, emphasizing her belief in AI's potential for enhancing video game graphics.

Sharma's strategy for Xbox focuses on maximizing profit through major franchises like Halo, Minecraft, and others, while streamlining the organization for better decision-making and accountability. The Federal Reserve's task force, which Sharma now contributes to, aims to enhance the institution's performance in light of evolving economic conditions.

Chairman Kevin Warsh expressed the Fed's commitment to adapting to economic changes and improving policy approaches with the help of experts from various fields. The goal is to ensure the Fed remains effective in achieving its objectives amidst significant economic shifts.