AI a ‘great challenge’, Australian regulators warn

Artificial intelligence poses “a great challenge” to financial markets and company regulators as it increases the potential for consumer harms, hard-to-detect collusion and data misuse, the heads of Australia’s top watchdogs warn.

But it would also help them better enforce the law with companies, as it could help predict new sources of misconduct and crunch more documents, they said at the Australian Securities and Investments Commission annual forum in Melbourne.