US FTC Probing ChatGPT Over Fake Information

Crypto Market News: The United States Federal Trade Commission (FTC) had reportedly sent a letter to OpenAI, the company behind the highly popular artificial intelligence based chatbot ChatGPT, over claims that the system published fake information. The agency claims that the company might have potentially violated consumer protection laws with the publishing of inaccurate data, according to latest reports. This marks the first ever major regulatory scrutiny on the artificial intelligence based tech products, at a time when industry giants like Microsoft, Google and Amazon are competing for the next big thing in the AI space.

Also Read: Elon Musk’s X.AI Shoots An Unrelated Token’s Price By 780%; Crypto AI Tokens Also Up

FTC Writes To OpenAI On Probe

According to a Wall Street Journal report, the commission is probing whether or not ChatGPT violated laws by publishing false information. This was communicated to the company via a letter the FTC sent, the report said. The FTC has sent a lengthy document asking OpenAI for the measures it took to mitigate risks around the AI models. At the core of the investigation is the question of whether or not the ChatGPT published data cause damage to its customers’ reputation.

Earlier, a group of industry experts including billionaire Elon Musk, called for a halt in AI development, although he later admitted that it will not materialize into a halt. In a recent, Musk said even China was willing to work shoulder to shoulder with international forums in deciding on an AI regulatory framework. He also warned that the technology is potentially dangerous on a civilizational level, and that the governments should approach this with an ‘Insight and Oversight’ policy, meaning that the lawmakers should first understand how AI works and then regulate the industry.

Also Read: Alex Mashinsky Arrested As US SEC, DOJ, CFTC And FTC Filed Lawsuits Against Celsius Network

Anvesh reports major crypto updates around regulation, lawsuits and trading trends. Published around 1,000 articles and counting on crypto and web 3.0. He is currently based in Hyderabad, India. Reach out to him at [email protected] or twitter.com/BitcoinReddy

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.