Prepared Remarks before the Investor Advisory Committee
· 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
GG · Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiPrepared Remarks before the Investor Advisory CommitteeContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.
Why it mattersGensler warns firms against misleading claims about their use of AI.
Problems raised- Brokers and advisers may put their interests first.
- Predictive data analytics can hide conflicts.
- Some firms make misleading AI claims.
Solutions proposed- Consider next steps on the conflicts proposal.
- Require a reasonable basis for AI claims.
- Act against AI washing under securities laws.
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