192 According to Pensions & Investments, various financial industry trade groups have taken action to oppose the Securities and Exchange Commission’s proposal on “Conflicts of Interest Associated with the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers.” The SEC aims to curb conflicts of interest arising from the use of predictive data analytics and similar technologies by firms, ensuring investors’ interests are prioritized. IBM CEO Arvind Krishna, in an interview with Politico, advocated for the accountability of AI companies by the federal government for any harm caused by their technology. Krishna emphasized the need for legal liability, stating that historical evidence demonstrates that accountability is bolstered when creators are held responsible for their creations. Meanwhile, an MIT Technology Review survey, conducted among a minimum of 1,000 executives, sheds light on the potential obstacles, benefits, and strategies for success concerning generative AI in the business domain. The survey revealed a widespread acknowledgment of AI’s transformative capabilities. However, uncertainties about the technology and anticipated future regulations remain significant concerns. Many companies are seeking partnerships with larger tech corporations while navigating the complexities of integrating AI. Additionally, several executives surveyed anticipate AI implementation to result in workforce reductions. You Might Be Interested In Unleashing the Power of Learning Management Systems for Smal Nasdaq Extends Risk Platform into Asia through Thailand’s KKPS Microsoft’s Massive Move: In Discussion on $10 Billion Investment in GPT-3 Credit Suisse Falls, Merges with Rival UBS Airtel, Jio instructed to prioritize 5G connectivity to G20 venues Edmund Lee Assumes Chairmanship at Singapore Gulf Bank, Driving Digital Financial Innovation
