US Treasury seeks public comments on AI use in financial services sector
The U.S. Treasury Department acknowledged on Thursday it’s looking out for public comments on the employ of synthetic intelligence within the financial products and companies sector.
The agency is having a survey to toughen its notion of the opportunities and risks introduced by the event and utility of AI within the sector.
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Regulators private cautioned that the rapid adoption of AI would possibly perchance well have new risks for the U.S. financial device if the skills is never any longer adequately monitored.
U.S. Treasury Secretary Janet Yellen will warn that the employ of AI in finance would possibly perchance well lower transaction charges however comes with “fundamental risks,” according to excerpts from a speech to be brought to a Monetary Steadiness Oversight Council and Brookings Institution AI conference on Thursday.
The Treasury acknowledged it’s looking out for inputs from a immense objective of stakeholders and is in particular drawn to notion how AI innovations would possibly perchance well relieve promote inclusive and equitable access to financial products and companies.
The agency has encouraged contributors of the final public to post their comments within 60 days.
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Source: Reuters
