Bank Executive Anxieties

Silicon Valley is stressing over the uncertainty around how artificial intelligence will be regulated—or even what to call it. Now, the CEOs preparing their businesses for an AI-driven economy are starting to feel the anxiety. “There’s no real framework in place,” said SoFi CEO Anthony Noto. The midterms are looming. Potential presidential contenders are rolling out policies to shape AI’s future development and its role in the economy. And as power changes hands, “we could start to move faster toward some type of regulation around artificial intelligence more broadly,” Noto said. New AI rules would certainly impact the biggest players in tech, said Noto. But any new rules could also “have an impact on our businesses.”