Title: U.S. Securities Commission to Establish Rules for AI Use

U.S. Securities and Exchange Commission Chair Gary Gensler revealed that "the regulatory committee for Wall Street is in the process of creating rules to regulate the use of artificial intelligence on trading platforms due to potential conflicts of interest." He added in a speech on Monday: "The commission will also need to adopt a new mindset to address the challenges posed by using technologies such as predictive analytics and machine learning concerning financial stability." Gensler stated, "If the AI systems used on trading platforms consider the interests of both the platforms and the clients, it could lead to conflicts of interest," adding that "he has tasked a committee working group with developing new regulatory proposals to tackle this." He noted that "artificial intelligence could also enhance the interconnectivity of the global financial system, a situation that current risk management models may not be prepared for."