Gary Gensler says it's "nearly unavoidable" that AI will cause a financial crisis if many institutions rely on the same underlying base model or data aggregator (Financial Times)

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Financial Times:
Gary Gensler says it's “nearly unavoidable” that AI will cause a financial crisis if many institutions rely on the same underlying base model or data aggregator  —  SEC head warns reliance on a few data models could unleash a financial crisis within a decade

from Techmeme https://ift.tt/G8zP5n6