Economy

Yellen Warns AI Could Pose ‘Significant Risks’ to Financial System

The treasury secretary joins a growing list of concerned officials.
Yellen Warns AI Could Pose ‘Significant Risks’ to Financial System
Secretary of the Treasury Janet Yellen speaks in New York on Sept. 20, 2023. Julia Nikhinson/AP Photo
Andrew Moran
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While artificial intelligence (AI) could present new opportunities and deliver vast riches to the financial system, the technology could pose “significant risks,” according to Treasury Secretary Janet Yellen.

At an event co-hosted by the Brookings Institution and the Financial Stability Oversight Council, Ms. Yellen outlined various vulnerabilities that AI presents to the financial sector.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."