{"id":82635,"date":"2023-08-04T14:46:51","date_gmt":"2023-08-04T11:46:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82635"},"modified":"2025-09-12T06:15:32","modified_gmt":"2025-09-12T03:15:32","slug":"massachusetts-regulators-scrutinise-ai-use-among-brokers","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/massachusetts-regulators-scrutinise-ai-use-among-brokers\/","title":{"rendered":"Massachusetts regulators scrutinise AI use among brokers"},"content":{"rendered":"<p>Massachusetts regulators have begun investigating the use of artificial intelligence (AI) in the securities industry. This was <a href=\"https:\/\/www.sec.state.ma.us\/divisions\/news\/left-story.htm\">said<\/a> by William Galvin, the Secretary of the Commonwealth.<\/p>\n<p>According to him, the agencies are concerned about the potential risks of how local firms use AI in their business and interact with investors through it.<\/p>\n<p>Authorities have already sent letters to a number of companies demanding explanations of how and for what purposes they are using neural networks. The data must be provided by 16 August 2023.<\/p>\n<p>The authorities are particularly interested in procedures that ensure that artificial intelligence does not place the firm&#8217;s interests above those of its clients.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPublic securities regulators must play an important role when it comes to AI and its impact on investors. \u2026 Without the requirements necessary to ensure transparency and dispute resolution, this technology could harm clients,\u201d Galvin said.<\/p>\n<\/blockquote>\n<p>The authorities have also targeted advertising materials by some companies, allegedly created with the help of neural networks.<\/p>\n<p>Earlier the <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-to-update-rules-to-address-ai-and-cryptocurrency-risks\">published a proposal<\/a> to revise risk-management rules in light of threats posed by AI and cryptocurrencies.<\/p>\n<p>In April, a group of European lawmakers announced plans <a href=\"https:\/\/u1f987.com\/en\/news\/meps-to-draft-additional-ai-oversight-measures\">to draft a bill<\/a> to control the development of such technologies.<\/p>\n<p>In July, UN representatives <a href=\"https:\/\/u1f987.com\/en\/news\/un-raises-concerns-over-the-role-of-deepfakes-in-inciting-hatred\">said<\/a>, that AI-generated <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-deepfake\">deepfakes<\/a> harm information integrity and fuel hatred in society.<\/p>\n<p>Researchers from OpenAI <a href=\"https:\/\/u1f987.com\/en\/news\/openai-warns-of-growing-threat-of-ai-enabled-disinformation\">warned of the growing threat<\/a> of using language models to spread misinformation.<\/p>\n<p>Meanwhile, American scientists called for <a href=\"https:\/\/u1f987.com\/en\/news\/scientists-urge-the-global-community-to-regulate-deepfakes\">countering deepfakes<\/a> created by \u201chostile states.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Massachusetts regulators have begun investigating the use of artificial intelligence in the securities industry.<\/p>\n","protected":false},"author":1,"featured_media":82636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,36,26],"class_list":["post-82635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=82635"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82635\/revisions"}],"predecessor-version":[{"id":82637,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82635\/revisions\/82637"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/82636"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=82635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=82635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=82635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}