Regulators Take Aim at AI to Protect Consumers and Workers

Regulators Take Aim at AI to Protect Consumers and Workers
Alphabet CEO Sundar Pichai (L) and OpenAI CEO Sam Altman arrive to the White House on May 4, 2023, for a meeting with Vice President Kamala Harris on artificial intelligence. Evan Vucci/AP Photo
The Associated Press
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NEW YORK—As concerns grow over increasingly powerful artificial intelligence systems like ChatGPT, the nation’s financial watchdog says it’s working to ensure that companies follow the law when they’re using AI.

Already, automated systems and algorithms help determine credit ratings, loan terms, bank account fees, and other aspects of our financial lives. AI also affects hiring, housing, and working conditions.