SEC Chair Warns of Potential Global Economic Destabilization Due to AI Monopolization by Big Tech Companies

07/17 17:20

Gary Gensler, Chair of the Security and Exchange Commission (SEC), has warned that the development of artificial intelligence (AI) for financial markets applications by big tech companies could destabilize the global economy. In a speech to the National Press Club in Washington, Gensler stated that AI could increase financial fragility and promote herding behavior among individual actors.

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