SEC fines two investment advisers over AI claims

9 months ago
46

The U.S. Securities and Exchange Commission announced on Monday that two investment advisers have reached settlements involving penalties to resolve charges of making false and misleading statements regarding their use of artificial intelligence (AI).

Delphia Inc, headquartered in Toronto, and Global Predictions Inc, based in San Francisco, neither admitted nor denied the SEC’s allegations but agreed to collectively pay fines totaling $400,000 to settle the civil charges related to what is termed as “AI washing,” as per the SEC’s statement.

This term refers to the misleading portrayal of the extent or effectiveness of AI utilization, Reuters reported.

READ MORE: https://www.reuters.com/technology/us-sec-settles-with-two-investment-firms-over-misleading-ai-statements-2024-03-18/

Links for B.C.

Visit My Website
https://bcbegley.com

Follow Me On Facebook
https://www.facebook.com/B.C.Begley

Subscribe To My Patreon
https://www.patreon.com/bcbegley

Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A

Follow Me On Twitter
https://twitter.com/BC_News1

Watch Me On Rumble
https://rumble.com/c/c-280191

Follow Me On Gab
https://gab.com/BC_Begley

Loading comments...