Fed's Barr says privacy is a key risk area with AI
XLK•Barr highlights AI privacy risks
NEW YORK, Sept. 1 (Reuters) - Federal Reserve Governor Michael Barr said on Tuesday that AI privacy controls are a key area of risk for the technology.
“Artificial intelligence has lots of upside potential and lots of downside risks, and we're at a time right now where we need to manage both,” Barr said at the Second Chance Lending Forum.
When it comes to privacy issues, “We need to be sure that the data that is being harnessed by AI is not shared in a way that reduces the ability of consumers to control their own information,” he said.
