The US Federal Trade Commission (FTC) is looking into ways to tackle AI-based misuse that could potentially be used to commit fraud or scams. This was confirmed by FTC chair Lina Khan, who said that the agency plans to use existing laws against unfair and deceptive acts to prosecute companies if they employ artificial intelligence (AI) technology in deceptive and illegal practices. ChatGPT is a type of artificial intelligence technology that can generate responses to conversations and Khan highlighted the potential for the technology to be used to carry out fraudulent activities.
The Nasdaq-listed AI startup OpenAI developed the ChatGPT technology and has received backing from some of the tech industry’s biggest names. However, Khan warned that the technology has the potential to create harms for consumers if it’s misused. She added that consumers must be protected and that the FTC aims to use its current authority to ensure that companies don’t get away with any misconduct.
Adena Friedman, the President and CEO of Nasdaq, commented that artificial intelligence technology can be used for great good to benefit society, but that it must be used responsibly. She noted that it’s critical for regulation to catch up with technology to ensure consumer trust. This sentiment echoes Khan’s earlier warning that companies and individuals who misuse artificial intelligence technologies must be held accountable.
The FTC has a history of law enforcement actions against companies that have misused artificial intelligence, such as targeting youthful consumers. The commission will now use it’s existing laws to protect American consumers fromChatGPT misuse. Companies around the world must adhere to existing standards for AI technologies and be aware of the implications of their use.
OpenAI is a San Francisco-based artificial intelligence research laboratory, co-founded by Elon Musk, Sam Altman and Greg Brockman. They are focused on building artificial general intelligence (AGI) to benefit humanity and have raised over $1 billion in money, including a $400 million Series C in July 2020. OpenAI made headlines after releasing the ChatGPT text-generating technology in late 2020, which sparked warnings from regulators such as FTC Chair Khan. OpenAI is publicly committed to leveraging AI technologies to improve exposure to customers, educate users, and promote responsible use of the technology.
