FTC Hosts FinTech Forum on Artificial Intelligence and Blockchain Technologies JD Supra

On Thursday, March 9th, the Federal Trade Commission (FTC) hosted a forum on the consumer implications of recent developments in artificial intelligence (AI) and blockchain technologies. This was the FTC's third forum on issues in FinTech. Previous FinTech Forums covered marketplace lending and crowdfunding and peer-to-peer payments. In opening remarks, the FTC acknowledged the benefits of technological developments in AI and blockchain technologies: AI promises better decision-making and personalized consumer technologies, while blockchain technologies would increase the efficiency of financial transactions and eliminate the need for the middleman, among other benefits. But, the FTC stressed that advancements in these technologies must be coupled with an awareness of and active engagement in identifying and minimizing associated risks.