Yellen to warn of ‘significant risks’ of AI in finance while acknowledging ‘tremendous opportunities’

Treasury Secretary Janet Yellen is set to warn that using artificial intelligence (AI) in finance carries “significant risks” even as it benefits financial firms, according to excerpts of a speech she is expected to deliver Thursday.

Yellen is set to speak at an AI conference held by the Financial Stability Oversight Council (FSOC) and the Brookings Institution, where she will acknowledge that AI “offers tremendous opportunities for the financial system” while outlining that AI-related risks are at the forefront of the regulatory council’