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Fed Appoints Xbox CEO as AI Jobs Advisor, Announces Cuts

7/10/2026

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Summary

Story summary

U.S. Federal Reserve Chairman Kevin Warsh named Xbox CEO Asha Sharma advisor to Productivity and Jobs task force and said task-force updates will be posted on its website.
Asha Sharma will help the task force assess AI and other general-purpose technologies’ impact on employment for the Federal Open Market Committee.
Earlier, Asha Sharma announced an Xbox reset that will cut roughly 3,200 jobs by fiscal 2027 and divest five studios.

History

Historical Context

IBM first showcased its AI system Watson on Jeopardy! in February 2011, beating champions Ken Jennings and Brad Rutter. Leveraging the publicity, IBM launched a dedicated Watson business unit on January 9 2014 with a $1 billion investment and a 2,000-person staff, reflecting a broader shift toward corporate AI platforms that later spurred policy debates on automation.

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Story summary

U.S. Federal Reserve Chairman Kevin Warsh named Xbox CEO Asha Sharma advisor to Productivity and Jobs task force and said task-force updates will be posted on its website.
Asha Sharma will help the task force assess AI and other general-purpose technologies’ impact on employment for the Federal Open Market Committee.
Earlier, Asha Sharma announced an Xbox reset that will cut roughly 3,200 jobs by fiscal 2027 and divest five studios.

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