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AI, Finance, Movies, and the Law - Prepared Remarks Before the Yale Law School

· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)

Summary written by Dark Majestic in its own words · topics: technology, ai and cyber risk

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· Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiAI, Finance, Movies, and the Law - Prepared Remarks Before the Yale Law School

ContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.

Why it mattersGensler warns that AI-driven advice could put firms' interests ahead of investors.

Problems raised
  1. AI can create conflicts of interest.
  2. Advice based on bad data harms investors.
  3. Firms may put their interests first.
Solutions proposed
  1. Enforce advisers' and brokers' duties to investors.
  2. Propose rules on conflicts from data analytics.
  3. Ensure advice rests on accurate information.
Read full speech on sec.gov ↗

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