Experts Disagree on Financial AI Use

June 11, 2024 – Experts disagree on the use of artificial intelligence in the financial sector, as discussed during the 2024 Conference on Artificial Intelligence & Financial Stability at the U.S. Department of the Treasury.

Hilary Allen, professor of law at American University noted that AI's lack of true intelligence and reliance on data are fundamental concerns. “A lot of people get confused by the term AI because you hear the term intelligence…But in fact, it's not intelligent in the way that a human is intelligent,” she said, adding that it is “basically applied statistics.”