Artificial intelligence will be a revolutionary technology, transforming all manner of business, but SEC Chairman Gary Gensler is warning that it also has the potential to wreak havoc on the economy.
In an interview with the New York Times, Gensler said he expects the U.S. to end up with two or three foundational A.I. models, making people more reliant on the same information (and acting in a herd mentality). And that’s where the trouble could start. “This technology will be the center of future crises, future financial crises,” Gensler said. “It has to do with this powerful set of economics around scale and networks.”
