Excerpt:
The SEC has already made it clear that it intends to pursue enforcement actions against firms that misrepresent their Artificial Intelligence (AI) capabilities. In the latest example of the SEC’s commitment in that regard, earlier this week the SEC filed an enforcement action against an investment advisory firm, its holding company, and the two firms’ CEO, in part based on allegations that the advisory firm claimed it would provide exceptional returns for investors through its use of artificial intelligence. [...]