According to the announcement, this bipartisan working group builds on the work of the Task Force on Artificial Intelligence in the 116th and 117th Congresses.
The United States House of Representatives Financial Services Committee (FSC) has formed a working group on artificial intelligence (AI) to explore the impact of AI in the financial services and housing industries.
FSC Chairman, Representative Patrick McHenry and Representative Maxine Waters announced the formation of the bipartisan Working Group on Artificial Intelligence on Jan. 11, 2024. The group is to examine how AI affects the financial services workforce, including creating new products, preventing fraud, improving compliance and enhancing regulatory tools.
The group will also review current regulations on AI use and ensure that new regulations consider both AI’s potential benefits and risks. According to the announcement, this effort builds on the work of the Task Force on Artificial Intelligence in the 116th and 117th Congresses.
