Xbox CEO Asha Sharma has been appointed to a Federal Reserve taskforce focused on assessing the economic impact of emerging technologies, including artificial intelligence. The group, dedicated to 'Productivity and Jobs,' will examine how advancements like AI could shape the future of employment and economic output.
Sharma, who previously led Microsoft's Core AI group before taking the helm at Xbox, joins a notable panel that includes Marc Andreessen, co-founder of Andreessen Horowitz, and Charles I. Jones, a Stanford economics professor currently on leave at Anthropic. The taskforce aims to analyze whether current policy approaches and analytical tools are adequately equipped to address the evolving economic landscape.
"The U.S. economy has changed significantly over the last generation, and never more so than right now," said Federal Reserve Chairman Kevin Warsh in a statement. "Each task force will carefully consider whether policymakers' means and methods, analytical tools and policy approaches can be improved upon."
Sharma's appointment arrives amidst a period of significant restructuring within Xbox. Earlier this year, the company announced substantial layoffs affecting 1,600 employees, with an additional 1,600 cuts planned over the current fiscal year. Several Xbox studios have been affected, and certain projects have been canceled. Despite these internal changes, Sharma has expressed belief in the potential of AI, particularly in areas like neural rendering for video game graphics.
Sharma's stated strategy for Xbox emphasizes profit growth by concentrating on major franchises such as Halo, Minecraft, Candy Crush, Fallout, and The Elder Scrolls. Her internal memo regarding the business reset highlighted a need for simplification, aiming to reduce management layers and streamline operations. "We will reduce management layers to no more than five, and where possible, three," Sharma stated. "We will deliver success through a flatter organization that is built around makers (individual contributors focused on building), player-coaches (leaders who remain deeply involved in the work while developing their teams), and directly responsible individuals (DRIs) who own key decisions and outcomes."
The taskforce's objective is to ensure the Federal Reserve is optimally positioned to achieve its mandates of price stability and maximum employment during this consequential period for the economy.