Tag: Artificial intelligence technology

The US Federal Trade Commission (FTC) is tackling the potential misuse of AI-based technologies, such as ChatGPT, to commit fraud or scams. FTC Chair Lina Khan said the agency is ready to use its current laws against unfair and deceptive practices to hold companies accountable if they misuse the technology. Nasdaq's President and CEO Adena Friedman noted that while AI can be used for the good of society, it must be regulated and used responsibly. Expect the FTC to enforce laws to protect American consumers from misuse of AI technology.

The rapid growth of Artificial Intelligence technology has recently sparked a huge debate about potential risks that it might bring. Microsoft-supported OpenAI's ChatGPT has been in the spotlight recently, with the public voicing their concerns about it possibly being used for unlawful activities. The US Federal Trade Commission (FTC) and other organizations are now investigating misuse of AI technology, with FTC Chair Lina Khan, Commissioners Rebecca Slaughter and Alvaro Bedoya addressing these issues in a congressional hearing. AI technology can be used to create deep fakes making it harder for victims to detect fraudulent acts. FTC will take necessary actions to prevent any wrongful use of this technology.

ChatGPT, a Microsoft-backed AI chatbot, has been banned in Italy for violating EU data protection laws. To address this, the European Data Protection Board is establishing a task force to coordinate efforts among its members. OpenAI, the creator of ChatGPT, is looking to ensure it meets its regulations and privacy is respected. It is in the best interest of all to follow the laws regarding development and use of AI around the world.