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Investment Advisors Pay the Price For Selling What Looked a Lot Like AI Fairy Tales
Two investment advisors have reached settlements with the US Securities and Exchange Commission for allegedly exaggerating their use of AI, which in both cases were purported to be cornerstones of their offerings. From a report: Canada-based Delphia and San Francisco-headquartered Global Predictions...
Two investment advisors have reached settlements with the US Securities and Exchange Commission for allegedly exaggerating their use of AI, which in both cases were purported to be cornerstones of their offerings. From a report: Canada-based Delphia and San Francisco-headquartered Global Predictions will cough up $225,000 and $175,000 respectively for telling clients that their products used AI to improve forecasts. Delphia claimed its system utilized AI and machine learning to incorporate client data, a statement the SEC said it found to be false.
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