SEC’s Gensler warns artificial intelligence risks financial stability

US Securities and Exchange Commission chair Gary Gensler. (Image: Bloomberg)

Thu, 20 Jul 2023

By Lydia BeyoudWall Street’s top regulator says the proliferation of artificial intelligence means governments will probably have to overhaul regulations to maintain global financial stability.Regulators must grapple with challenges posed by the burgeoning technology, according to US Securities and Exchange Commission (SEC) chair Gary Gensler. He also reiterated that the agency’s staff was weighing whether new rules were needed. 'The most transformative technology of our time'“AI [artificial intelligence] may...

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