SEC’s Gensler cites cloud market dominance, deployer responsibility in AI regulatory efforts

Securities and Exchange Commission Chairman Gary Gensler warned of market dominance among cloud service providers as well as AI deployers’ responsibility when it comes to preventing AI-empowered fraud, in explaining his approach to artificial intelligence regulation at a House Financial Services oversight hearing.

“I think it's one of the most transformative technologies of our times,” Gensler said at the Sept. 24 full committee hearing, which Financial Services Chairman Patrick McHenry (R-NC) framed as addressing SEC regulatory over-reach across a...