In a recent speech, SEC Chairman Gary Gensler said that the agency is shifting its focus from cryptocurrency to artificial intelligence (AI). Gensler said that AI is the “most transformative technology of this generation” and that it warrants the SEC’s attention.

The SEC’s focus on AI is likely due to the growing importance of AI in the financial industry. AI is being used to develop new trading algorithms, to automate tasks, and to improve risk management. As AI becomes more widespread in the financial industry, the SEC will need to ensure that it is properly regulated.

The SEC is concerned that AI could be used to manipulate markets or to commit fraud. The SEC is also concerned that AI could be used to create new financial products that are too complex for investors to understand.

• The SEC has created a new unit dedicated to regulating AI in the financial industry.
• The unit is headed by an experienced regulator who has worked on issues related to technology and finance.
• The unit is working on developing new rules and regulations for AI in the financial industry.
• The unit is also working on educating investors about the risks of AI in the financial industry.

The SEC’s focus on AI is a sign that the agency is committed to protecting investors from the risks of this transformative technology. The SEC is also working to ensure that AI is used to promote innovation and to benefit the financial markets.