In a recent hearing, Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), discussed the incorporation of artificial intelligence (AI) into the SEC’s operations for market surveillance and enforcement. This move aims to enhance the SEC’s monitoring capabilities and effectively identify patterns that may indicate fraudulent activities or other forms of market misconduct. Gensler stated that AI is already being utilized in some instances of market surveillance and enforcement.
The decision to incorporate AI into the SEC’s operations comes as AI technology gains popularity in various sectors, with OpenAI’s ChatGPT making notable advancements in 2023. By leveraging AI, the SEC hopes to stay up-to-date with market trends and employ state-of-the-art technology to detect potential wrongdoing. The integration of AI tools by the SEC may also serve as an example for other regulatory bodies, inspiring them to enhance their own surveillance abilities.
To support the successful implementation of AI and strengthen the SEC’s technological infrastructure, Gensler has requested increased funding from Congress. With additional resources, the SEC can further solidify its position at the forefront of market surveillance and enforcement efforts.
This article is based on an original article written by Michael Grullon and can be found [here](https://watcher.guru/news/sec-chair-gary-gensler-discusses-use-of-ai-for-market-surveillance-and-enforcement/). In terms of factual accuracy, this article provides information about the SEC’s use of AI technology for market surveillance, citing Chairman Gensler’s remarks. While there is some speculation about the potential impact of the SEC’s actions on other regulatory bodies, the article remains neutral overall. Based on my analysis, I would rate this article as 90% likely factual news.
