By Jefferson City News |
Feb 6, 2024
Congressman Blaine Luetkemeyer has raised concerns about the lack of preparation by banking regulators for potential banking crises caused by artificial intelligence (AI). During a recent congressional hearing, Luetkemeyer questioned Treasury Secretary Janet Yellen about the oversight of banking models in the face of AI-related risks.Luetkemeyer highlighted the speed at which crises can unfold in the digital age, using the example of $42 billion being withdrawn from a bank within 10 hours due to a tweet and subsequent social media frenzy. He expressed concern that AI...