SEC Chairman Gary Gensler Addresses AI Fraud Concerns

According to Odaily, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler emphasized that using algorithms or artificial intelligence models to defraud the public constitutes fraud. He noted that this issue is not unique to the SEC, as other agencies like the Federal Trade Commission (FTC) also face similar challenges. Gensler highlighted that the SEC is focused daily on reducing costs within the system through competition and transparency, ensuring market accessibility. Additionally, he stressed the importance of market resilience, mentioning measures such as central clearing to strengthen backend and infrastructure robustness.