SEC is worried chatbots could fuel a market panic

The US Securities and Exchange Commission (SEC) has expressed concern about generative AI’s impact on financial markets.

In a speech given to the National Press Club on Monday, SEC Chair Gary Gensler said recent advances in generative AI increase the possibility of institutions relying on the same subset of information to make decisions.

Gensler said the large demand for data and computing power could mean only a few tech platforms may dominate the field, narrowing the field of AI models …

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