The US Securities and Exchange Commission has imposed financial penalties against two investment firms for making untrue or misleading claims about their use of AI, known as “AI washing.” Delphia has agreed to pay a civil penalty of $225,000; Global Predictions has agreed to a civil penalty of $175,000. More https://www.sec.gov/news/press-release/2024-36
SEC Takes Action Against Investment Firms for “AI Washing”
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