Regulators have been ratcheting up scrutiny on AI. The SEC has repeatedly warned companies about making false statements regarding AI technology. Chair Gary Gensler has reminded companies that they need to ensure that they are disclosing accurate information, especially if they are using artificial intelligence.
"We've seen time and again that when new technologies come along, they can create buzz from investors as well as false claims by those purporting to use those new technologies," SEC Division of Enforcement Director Gurbir Grewal said in a statement.
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