GME - SEC Chair Gary Gensler Fields Questions On AI 'Roaring Kitty' And Congressional Trading: 'Disclosure Doesn't Necessarily Protect A Bad Actor' | Benzinga
Securities and Exchange Commission Chair Gary Gensler joined CNBC’s “Squawk On The Street” Wednesday to discuss a number of topics that are top of mind for investors, including AI’s role in public markets, recent trading activity in GameStop Corp (NYSE:GME) and rules on insider trading.
Gensler On AI
Gensler told CNBC that he believes AI is “the most transformative technology of our time.
“We’re taking human decision-making and more and more putting it in the box, in the algorithms, so I think that’s transformative, it’s a good thing for capital markets, but it also raises real risks,” the SEC chair said.
The introduction of AI in public markets comes with challenges including potential conflicts of interest, fraud and overconcentration, he said. The SEC has to consider the potential for AI to trade against market participants or attempt to defraud investors, the top market regulator said. He also suggested that being reliant on one or ...