The House Financial Services Committee, Task Force on Artificial Intelligence, has scheduled a hearing for December 6th. The hearing is entitled, “Robots on Wall Street: The Impact of AI on Capital Markets and Jobs in the Financial Services Industry.”
The AI Task Force is relatively new, created by House Financial Services Committee Chairwomen Maxine Waters and announced in May of this year.
The AI Task Force is expected to research and review the following issues:
- Applications of machine learning in financial services and regulation
- Algorithms and Big Data: emerging risk management perspectives
- AI, Digital Identification Technologies and Combatting Fraud
- Automation and its impact on jobs in financial services and the overall economy
This specific hearing has yet to publish an agenda nor panelists testifying before the Task Force.
The importance of AI, machine learning and automation of financial services is growing rapidly. The emergence of AI not only brings with it important ethical questions but affiliated automation may also impact the jobs required within the financial services industry.