Regulators are working feverishly to comprehend and mitigate the possible hazards connected with artificial intelligence (AI), while financial services corporations are investing billions of dollars in this technology.

According to the Treasury, it wants to learn more about the benefits and dangers that come with using AI in the financial services industry, as well as any possible roadblocks to the technology's responsible application.

Feedback on the amount of AI's influence on end users, enterprises, investors, financial institutions, regulators, and consumers is also requested in the information request. It also asks for suggestions on how to improve the legal, administrative, and regulatory systems.

The Treasury says it wants to hear from a wide range of viewpoints and is especially interested in learning how AI breakthroughs may support a financial system that provides equal and equitable access to financial services. Comments are welcome for a period of sixty days.

Treasury is pleased to be a driving force behind responsible innovation, particularly when it comes to financial institutions and artificial intelligence. According to Nellie Liang, Under Secretary for Domestic Finance, "our continuous stakeholder engagement allows us to improve our understanding of AI in financial services."