The U.S. Securities and Exchange Commission ordered the investment adviser’s U.S. unit to pay US$225,000 for making false and misleading statements about its use of AI. The regulator ordered San Francisco-based Global Predictions to pay US$175,000 for the same charges. Neither company has confirmed or denied the claims. (The Logic)
Skip to content
The U.S. Securities and Exchange Commission ordered the investment adviser’s U.S. unit to pay US$225,000 for making false and misleading statements about its use of AI. The regulator ordered San Francisco-based Global Predictions to pay US$175,000 for the same charges. Neither company has confirmed or denied the claims. (The Logic)
Talking point: The SEC has been warning companies about making false claims about their use of AI and urging investors to protect themselves by reviewing firms’ disclosure documents. “AI washing hurts investors,” SEC chair Gary Gensler said in a statement Monday. “We’ve seen time and again that when new technologies come along, they can create buzz from investors as well as false claims by those purporting to use those new technologies.” While the fines against Delphia and Global Predictions are relatively small, they may serve as warning shots to companies that make AI claims and investors that believe them.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Commentary
Carmichael: Was Chicken Little stirring panic, or just taking precautions?
Briefing
Carney plans to discuss US$135B defence bank with new U.K. prime minister
B.C. nearing federal MOU of its own as talks continue on Alberta’s West Coast pipeline
Quebecor urges CRTC to block Corus restructuring as part of takeover push
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
