Massachusetts opens investigation for use of artificial intelligence

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Letters of inquiry to a number of firms using or developing artificial intelligence for their businesses had been sent by the Massachusetts Secretary of State Office

An investigation has been opened by Massachusetts securities regulators into the way investment firms use artificial intelligence in their interactions with investors in the state, citing concerns about the technology’s growth and potential unchecked use.

Letters of inquiry to a number of firms using or developing artificial intelligence for their businesses had been sent by the Massachusetts Secretary of State Office, the state’s top securities regulator. These businesses included JPMorgan Chase and Morgan Stanley, the secretary announced.

According to a spokesperson for Galvin, Tradier Brokerage, US Tiger Securities, E*Trade, Savvy Advisors, and Hearsay Systems were the others who received the letters.

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