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2023-11-01 09:54:41
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SEC Chairman Warns Unregulated AI Could Trigger Financial Crisis
SEC Chairman Gary Gensler warned that unregulated AI could trigger a financial crisis within the next decade. Major financial institutions widely using the same AI models could lead to a chain reaction if those models have flaws. The fragmented regulatory framework increases the difficulty of oversight. The SEC is considering new rules to regulate the application of AI. Gensler cautioned that the impact of predictive analytics tools needs to be closely monitored.