United States Securities and Exchange Commission (SEC) Chair Gary Gensler testified on Sept. 12 in a Senate oversight hearing that his agency was currently using artificial intelligence (AI) technologies to monitor the financial sector for signs of fraud and manipulation.
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When asked by Sen. Catherine Cortez Masto how he envisioned the SEC using AI, Gensler responded:
“So, we already do. In some market surveillance and enforcement actions. To look for patterns in the market. … It’s one of the reasons why we’ve asked Congress for greater funding this year, in 2024, to help build up our technology budget for the emerging technologies.”
Source: Gary Gensler confirms SEC’s use of AI for financial surveillance
