CFTC to check regulations for AI applications

According to Cointelegraph, The United States Commodity Futures Trading Commission (CFTC) will look into how regulated entities might use artificial intelligence (AI) in their compliance efforts and other applications.

The CFTC is expected to look after AI applications in trading, risk management, compliance, cybersecurity, record-keeping, data processing, analytics and customer interactions. Sources revealed that AI can influence surveillance, Anti-Money Laundering (AML) and regulatory reporting functions.