Congress introduces bipartisan bills to study AI's impact on banking and housing sectors.

Representatives McHenry and Waters have introduced bipartisan bills that will commission federal agencies to study the use of AI in banking and housing sectors. The studies will focus on how AI affects property valuations, loan underwriting, and data privacy, among other areas. The bills aim to address potential risks like algorithmic price fixing while also recognizing AI's benefits. The House Financial Services Committee will hold a hearing on Wednesday to discuss innovation in financial services.

4 months ago
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