The SEC is cracking down on investment advisers is says falsely claim to use AI.
The agency settled with two advisers, Delphia and Global Predictions, who agreed to pay fines of $225,000 and $175,000, respectively.
"Investment advisers should not mislead the public by saying they are using an AI model when they are not.
AdvertisementThe SEC is beginning to crack down on companies it says are "AI washing."
The firms, Delphia (USA) and Global Predictions, agreed to pay penalties of $225,000 and $175,000 respectively.
Persons:
Gary Gensler, —
Organizations:
SEC, Service, Delphia, Business