SEC Chair Gensler Warns About Centralization of AI in Financial Sector

"This is a new tool for bad actors to do bad things to the American public."

By Maydeen Merino | February 15, 2024 at 08:18 AM

The financial sector's reliance on just one or two dominant artificial intelligence (AI) models could lead to the centralization of the technology and financial instability, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler warned on Tuesday.

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Maydeen Merino is a regulatory reporter, covering the DOJ, FTC, SEC and EPA. She can be reached at [email protected].

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