Technology

SEC Chairman warns against misleading AI propaganda and watches AI

2024-02-14 05:26:14

With the development of artificial intelligence technology, many companies are competing to be leaders in this field, with many making exaggerated claims about the capabilities of AI. According to Gary Gensler, chairman of the board, The SEC Commissioner said in a speech on Tuesday about Publicly traded companies that promote risky or dishonest use of artificial intelligence It engages in “AI cleaning” that may harm investors and violate U.S. securities laws.

“We've seen time and time again that when new technology comes along, They can generate buzz from investors as well as make false claims,” Gensler told the audience at Yale Law School. “If a company raises public funds, Companies must be truthful about their use of AI and the risks involved.”

Instead of exposing the risks using boilerplate language about AI, Gary said: Executives should consider whether artificial intelligence plays an important role in their company's business. Could you include the internal operations of the company and provide specific disclosures addressing those risks? They shouldn't lie about how they use AI models or how they use AI in specific applications.

Gary's warning underscores a growing push by federal agencies to highlight the extent to which laws in many countries already apply to artificial intelligence. Although many policy experts call for new regulations on the technology, for example, The Federal Trade Commission has issued “extensive warnings” about how artificial intelligence constitutes scams and cryptocurrency fraud. However, the agency is ready to use U.S. consumer protection and antitrust laws to prevent AI-related harm.