Gensler Wants Global Financial Regulators to Coordinate on AI

The head of Wall Street’s main regulator is calling for more international coordination to ensure that artificial intelligence won’t harm global financial stability.

A global effort among regulators is needed to get a better sense of risks related to firms relying on similar artificial intelligence models, according to Securities and Exchange Commission Chair Gary Gensler. He cited past examples of a few companies coming to dominate industries like cloud computing and online search.

“We tend to have regulations and laws around entities and activities, and here we’re talking about, what if nearly everybody is relying on one model?” Gensler ...