The Federal Trade Commission (FTC) is keeping a close eye on the use of artificial intelligence (AI) to ensure that it does not lead to unfair or deceptive practices. FTC Chair Joseph Simons said in an interview with The Hill that the agency is “very focused” on AI and its potential for misuse.
Simons noted that while AI has many beneficial uses, such as improving healthcare and transportation, there are also risks associated with it. He pointed out that companies may be tempted to use AI in ways that could harm consumers, such as by using algorithms to manipulate prices or target certain groups of people unfairly.
The FTC chair emphasized the importance of ensuring fairness when it comes to AI-based decisions. He said the agency will be looking at how companies are using algorithms and data sets to make decisions about customers, including whether those decisions are based on accurate information or if they have been manipulated in some way.
Simons also highlighted the need for transparency when it comes to AI-based decision making processes so consumers can understand why they were treated differently than others who had similar circumstances but different outcomes. He added that this kind of transparency would help protect against discrimination and other forms of bias in automated decision making systems.
Finally, Simons stressed the importance of consumer education when it comes to understanding how their data is being used by companies employing AI technology. He said educating consumers about their rights under existing laws like the Fair Credit Reporting Act would help them better understand what protections they have from unfair or deceptive practices related to algorithmic decision making processes employed by businesses today.
|FTC chair says agency watching for ‘unfair or deceptive’ AI use|Technology|The Hill