The Federal Trade Commission will crack down on companies whose AI tools harm consumers, officials said Tuesday.
Regulators are scrutinizing the AI tools companies use to make hiring decisions and who to lend money to. They monitor tools that can generate text, images, audio, and even video to ensure consumers don’t fall prey to mass deception and targeted misinformation.
FTC Chairman Lina Khan also said at a press conference that the FTC will keep big companies honest as they compete for resources in the growing AI space.
“Today, a handful of powerful companies have not only the vast amount of data stores, but also the raw materials they need, such as the cloud services and computing power that startups and others rely on to develop and deploy AI products. ,” said Khan.
See more: From marketing to design, brands are taking risks to adopt AI tools
AI may be a novel capability, she warns, but regulators will treat it like any other business tool.
“There is no AI exemption in the law of the books,” Khan said.
Other regulators around the world are also trying to keep up with advances in AI. Canada has investigated ChatGPT for potential privacy violations, and Italy has blocked the program so it can be investigated if it violates EU data laws.
The EU’s proposed AI law would classify the increased use of AI tools into different risk categories, completely ban those considered the most dangerous, and allow other high-risk applications such as AI-assisted employment decisions. subject to stronger laws.
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