AI will be transformational, but it could also trigger a future financial crisis by promoting herd mentality, SEC chief says
Artificial intelligence has its advantages, but it could also be responsible for triggering a future financial crisis, according to Securities and Exchange Commission chair Gary Gensler. , Gensler said AI is the"most transformative technology of our time, on par with the internet and mass production of automobiles."
But the technology doesn't come without its risks. According to the former Goldman Sachs investment banker, AI threatens the health of financial markets given it could encourage investors to make similar decisions regarding their trades.
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