It’s difficult to contain the advance of artificial intelligence: it is everywhere. For the Financial Stability Oversight Council, these programs will harm the financial stability of the United States. Data control, privacy and cybersecurity will also suffer. Details !
AI, a threat to financial stability
AI will steal our jobs, warned Elon Musk, himself the author of several artificial intelligence projects (Grok, TruthGPT, etc.) recently. A large number of employees will be laid off in the near future. And they will have artificial intelligence as a substitute.
“ In a revelation, the Financial Stability Oversight Council (FSOC) has, for the first time, identified artificial intelligence (AI) as a potential risk to the financial stability of the nation. »
In a recent publication, Cryptopolitan relayed the details of a government report in which the FSOC warned of a possible risk that AI represents for the financial stability of the United States. The crypto media outlet reported that this is the first time that this Council has opted for this warning tone.
Note that the FSOC is made up of no less popular American figures such as Janet Yellen, Secretary of the Treasury, Jerome Powel, Chairman of the FED, and Gary Gensler, Chairman of the SEC.
Everyone is indeed worried about the operational risks introduced by artificial intelligence, in particular their dependence on large data sets and third-party providers. However, AI has very much conquered the financial sector: its role in identifying models no longer needs to be demonstrated.
For Gary Gensler,misuse of artificial intelligence by malicious people requires more vigilance. These can actually deceive market players through bad manipulation.
An AI-generated image highlighting a fake explosion near the Pentagon last May, for example, caused a brief fall in stock markets.
For her part, Janet Yellen, calls for an application of existing principles and rules with a view to a “ responsible innovation “. However, it foresees widespread adoption of Artificial Intelligence, which constitutes an evolution of the technological landscape in the USA.
Didn’t the Secretary General of the United Nations, Antonio Guterrez, ask a think tank to look into global regulation of Artificial Intelligence a few months ago? We look forward to the publication of the related recommendations in the first half of 2024.
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