{"id":5453,"date":"2023-10-17T14:04:32","date_gmt":"2023-10-17T14:04:32","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=5453"},"modified":"2023-10-17T14:04:32","modified_gmt":"2023-10-17T14:04:32","slug":"sec-chairman-gary-gensler-ai-may-lead-to-financial-crisis","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sec-chairman-gary-gensler-ai-may-lead-to-financial-crisis\/","title":{"rendered":"SEC Chairman Gary Gensler: AI May Lead To Financial Crisis!"},"content":{"rendered":"

SEC Chairman Gary Gensler,<\/strong> stated the use of artificial intelligence could lead to an inevitable financial crisis unless any intervention. In his remarks to the Financial Times magazine, Gensler predicted that this crisis could occur within a decade.<\/p>\n

Gensler’s concerns revolve around the centralization of artificial intelligence models and cloud service providers. SEC Chairman Gary Gensler<\/strong> stated, \u201cIf everyone is relying on the same basic model and\u00a0the major technology companies own <\/span>this model. How many cloud providers do we have in the country?<\/span><\/p>\n

You May Be Interested: The Latest Status in Bitcoin and popular altcoins<\/strong><\/em><\/a><\/p><\/blockquote>\n

In addition to cryptocurrency regulations<\/strong>, artificial intelligence has also become one of the SEC’s focal points. Gensler is worried over-reliance on models like ChatGPT<\/strong> could lead to a series of psychological effects in some financial markets. (Such as Wall Street and US financial markets.)<\/p>\n

This attitude was also evident in the article “Deep Learning and Financial Stability” . (This article that Gensler previously co-wrote with MIT research assistant Lily Bailey<\/strong> in 2020). According to the 2020 article, the use of artificial intelligence in the financial system could lead to risks in the economy.<\/p>\n

The effects of artificial intelligence technology<\/strong> within the financial system could play a significant role in future regulations and financial policies. Also, Gensler’s statements can be a warning about the need for careful regulation of the use of artificial intelligence.<\/p>\n

\n

In the comment section, you can freely share your comments about the topic. Additionally, don\u2019 t forget to follow us on\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

SEC Chairman Gary Gensler, stated the use of artificial intelligence could lead to an inevitable financial crisis unless any intervention. In his remarks to the Financial Times magazine, Gensler predicted that this crisis could occur within a decade. Gensler’s concerns revolve around the centralization of artificial intelligence models and cloud service providers. SEC Chairman Gary<\/p>\n","protected":false},"author":1,"featured_media":5452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[914,2020,2019],"class_list":["post-5453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-chatgpt","tag-mit","tag-sec-chairman-gary-gensler"],"yoast_head":"\nSEC Chairman Gary Gensler: AI May Lead To Financial Crisis! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"SEC Chairman Gary Gensler, stated the use of artificial intelligence could lead to an inevitable financial crisis unless any intervention.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/sec-chairman-gary-gensler-ai-may-lead-to-financial-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Chairman Gary Gensler: AI May Lead To Financial Crisis! 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