U.S. Treasury Secretary Janet Yellen Raises Concerns Over AI
U.S. Treasury Secretary Janet Yellen has called attention to the potential risks posed by artificial intelligence (AI) within the realm of finance. She underscored various factors that could contribute to systemic vulnerabilities, specifically pointing to the complexity and lack of transparency in AI algorithms, an inadequate risk management framework, the shared use of data and models which might lead to interconnected risks, and concentration risks arising from a few entities providing modeling, data, and cloud services.… Read the rest
