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As concerns grow over increasingly powerful artificial intelligence systems like ChatGPT, the nation's financial watchdog says it is working to ensure that companies follow the law when using AI. According to AP News, regulators are taking aim at AI to protect both consumers and workers from potential harms posed by the rapidly expanding technology.
The bipartisan effort extends beyond federal agencies. NPR reports that Republicans and Democrats in state capitols across the country are finding common ground when it comes to regulating Artificial Intelligence and data centers. This rare display of political agreement reflects growing unease about how AI systems are being deployed in everyday life.
The regulatory focus comes as AI tools have become increasingly accessible to ordinary Americans, raising questions about data privacy, algorithmic bias, and potential job displacement. Watchdogs are examining whether existing consumer protection and financial regulations adequately cover the ways companies are using AI to interact with customers and make decisions about services.
While specific enforcement actions remain limited, the coordinated attention from both federal and state regulators signals a shift toward closer scrutiny of the AI industry. Consumer advocates have long warned that without clear rules, companies could exploit AI systems in ways that harm the public interest.