Tag: FTC

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.

The US Federal Trade Commission (FTC) is fighting against frauds by warning us about the risks associated with modern AI technologies like ChatGPT. Chair Lina Khan, a Yale Law school graduate, is leading the organization in a safer, more technologically savvy direction. Let's join forces with the FTC to make a more secure and efficient marketplace for everyone.

At a recent FTC hearing, Commissioner Lina Khan expressed concerns about the potential risks of modern AI technologies such as ChatGPT. The Commission has taken steps to protect consumers from fraudulent practices potentially stemming from the use of such technologies, and launched the Office of Technology to assist with consumer protection. Commissioner Rebecca Slaughter followed Khan's remarks, highlighting the FTC's ability to adapt to new technologies. The company mentioned in this article was Opendoor, and the FTC warned them against deceptive claims related to the sale of homes.

End users beware: the FTC’s warning that advanced AI technology, like ChatGPT, could be used to “turbocharge” fraud and scams is a stark reminder of the risks posed by this tech. FTC Chair Lina Khan and fellow commissioners outline strategies to protect against these threats and promote a safe, well-regulated economic environment.

. Regulators around the world are increasing their focus on Artificial Intelligence for its potential risks when used for commercial purposes. Companies must be aware of potential enforcement in The US where the FTC has laid out guidelines to avoid deceptive practices when deploying generative AI. With ChatGPT being used as an example, OpenAI has had to face bans in various countries due to privacy concerns. It is essential for companies to understand and adhere to the FTC’s guidelines as well as international privacy regulations to remain compliant.