SEC chair warns AI could cause a financial crash within a decade
The SEC's Gary Gensler just warned that an AI-triggered financial crisis is "nearly unavoidable" by the late 2020s or early 2030s. The danger isn't necessarily one reckless trader, but entire Wall Street institutions quietly relying on the same underlying foundation model or data aggregator. Why it matters: Regulators are built to police individual banks, making systemic AI monocultures a massive blind spot.