CFTC Commissioner Kristin N. Johnson defended the CFTC's "efforts to advance inquiries regarding the integration of AI in our markets and to explore the need to introduce guardrails to mitigate the risks that AI technologies may present."
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In a new Report, a CFTC Technology Advisory Subcommittee described the "promising opportunities and complex, significant risks to the U.S. financial system, consumers, and national security" associated with decentralized finance and generative artificial intelligence.
CFTC Commissioner Christy Goldsmith Romero asked members of the Technology Advisory Committee to consider "guardrails to ensure that AI innovation is responsible."
CFTC Commissioner Christy Goldsmith Romero warned regulators of the danger of regulatory complacency and not to rollback critical Dodd-Frank post-crisis reforms. She highlighted the need for vigilant management of emerging risks in the cryptocurrency industry and as to the deployment of artificial intelligence in financial services.
CFTC Commissioner Kristin N. Johnson highlighted concerns over the increasing influence of social media and artificial intelligence on individual investor decisions.