United States of America: Closed consultation in CFTC Inquiry into uses and risks of artificial intelligence

On 24 April 2024, the Commodity Futures Trading Commission (CFTC) closed its Request for Comment (RFC) into the use and risks of artificial intelligence (AI) in the derivatives markets it regulates. gather information on the definition of AI and its applications, including its use in trading, risk management, compliance, cybersecurity, recordkeeping, data processing and analytics, and customer interactions. The RFC also aims to understand the risks of AI, including those related to market manipulation and fraud, governance, explainability, data quality, concentration, bias, privacy and confidentiality, and customer protection. The responses to this RFC will be considered in analysing possible future actions by the CFTC, such as issuing guidance, interpretations, policy statements, or regulations.