Businesses could face steep penalties for using deepfakes or other artificial intelligence tools to illegally manipulate markets or to engage in securities fraud, under new legislation proposed Tuesday by a bipartisan pair of senators. The bill by Virginia Democratic Sen. Mark Warner and Louisiana Republican Sen. John Kennedy represents a broad effort to grapple with the risks that AI could pose to the US financial system. “AI has tremendous potential but also enormous disruptive power across a variety of fields and industries – perhaps none more so than our financial markets,” Warner said in a statement. “AI is moving quickly, and our laws should do the same to prevent AI manipulation from rattling our financial markets,” Kennedy said. “Our bill would help ensure that AI threats do not put Americans’ investments and retirement dreams at risk.”For more CNN news and newsletters create an account at CNN.com

Source: CNN December 20, 2023 00:05 UTC