Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), has artificial intelligence on his radar this time around. Gensler, who has made a name for himself in the crypto world with his work and lawsuits filed by the organization he chairs, said the disadvantages of artificial intelligence are just as important as its benefits.
Expressing that artificial intelligence is the most transformative technology of our era, Gensler said:
“Applications and Robot Advisors…”
The Internet and the mass production of cars are the most transformative technologies of the era we live in, along with artificial intelligence. Finance, compliance programs, sentiment analysis and trading algorithms are the areas where artificial intelligence is most commonly used. Brokerage house applications and robot-advisors have also entered this field.
“We will continue to talk about artificial intelligence”
I think AI will continue to drive significant change in science, technology and commerce. So we have to focus on the challenges posed by artificial intelligence. In considering the point at which automation of human intelligence has arrived, we can see how realistic this is.
“can be used in manipulation”
bad actors; Maybe they want to manipulate elections and capital markets or cheat the public. Even Orson Welles’ 1938 play War of the Worlds remains flawless here.
“cheating is cheating”
At the SEC, we are technology neutral. We shall see what happens as a result of this work. Depending on how AI technology is used, we can enforce securities laws. With the power we have, we have to be mindful of both the micro and macro challenges of AI. Fraud is always fraud. It’s the SEC’s job to investigate any of these things.
Are AI tokens the goal?
Gensler’s writings on artificial intelligence and his words that “we will intervene against fraud of all kinds as much as possible” have led to comments that artificial intelligence tokens may be under scrutiny by the SEC. Especially in 2023, with the development of AI technology, many artificial intelligence tokens experienced a sharp rise.
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