Yellen to warn of 'significant risks' of AI in finance while acknowledging 'tremendous opportunities'

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 53%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Treasury Secretary Janet Yellen will deliver a speech Thursday warning of the 'significant risks' posed by AI in finance while acknowledging the 'tremendous opportunities' it offers.

Treasury Secretary Janet Yellen is set to warn that using artificial intelligence in finance carries "significant risks" even as it benefits financial firms, according to excerpts of a speech she is expected to deliver Thursday.

Yellen goes on to explain in her prepared remarks that if too many market participants rely on the same AI models and data, as well as cloud service providers, it could reinforce existing biases or create new ones that impact decision-making in financial markets. "Concentration among vendors developing models, providing data, and providing cloud services may also introduce risks, which could amplify existing third-party provider risks.

Advances in natural language processing, image recognition, and generative AI, for example, create new opportunities to make financial services less costly and easier to access," Yellen says in the excerpts. The secretary also notes that the Internal Revenue Service is using AI for "enhanced fraud detection.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 458. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Senator Manchin urges industry to sue Treasury over EV tax creditsManchin told Treasury Secretary Janet Yellen that U.S. manufacturers were being damaged by the content rules, which he said Treasury had halved from the original language in the law.
출처: therealautoblog - 🏆 528. / 51 더 많은 것을 읽으십시오 »

Yellen sees no 'showstoppers' on G7 Ukraine loan backed by Russian asset earningsU.S. Treasury Secretary Janet Yellen said she does not see 'any showstoppers' in talks with G7 finance ministers about a larger loan to Ukraine.
출처: CNBC - 🏆 12. / 72 더 많은 것을 읽으십시오 »