According to Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), Artificial Intelligence (AI) will be the cause of future financial crises.
SEC and Artificial Intelligence (AI): Gary Gensler warns there will be financial crises
In an interview with Dealbook’s Ephrat Livni, Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), reveals his concerns on the topic of Artificial Intelligence (AI).
Specifically, Gensler warns that the emerging technology will be at the center of future financial crises.
His greatest fears involve generative AI tools such as ChatGPT that want to transform businesses and society. Not only that, Gensler indicated that some AI models may favor corporate interests over those of investors, leading to potential conflicts of interest.
In this regard, the regulator appears to have already taken action on this issue, submitting a specific proposal to address these conflicts that could be embedded in the models.
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