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FSOC raises alarm on financial stability risks from AI

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FSOC raises alarm on financial stability risks from AI
FSOC raises alarm on financial stability risks from AI
Gary Gensler, chairman of the Securities and Exchange Commission, said during a meeting of the Financial Stability Oversight Council Thursday that artificial intelligence could “heighten financial fragility, as it could come to promote herding among individual actors making similar decisions as they get the same signal from the base model or data aggregator; and they may not even know it.”

Bloomberg News

WASHINGTON — The Financial Stability Oversight Council Thursday highlighted new…

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