S. 4870 is a bill that requires several U.S. financial regulators, including the Federal Reserve and the Consumer Financial Protection Bureau, to submit reports on how artificial intelligence (AI) is being used in the financial services industry. The reports must cover areas such as which...
Simple Explanation
S. 4870 is a bill that asks important U.S. money-related bosses, like the Federal Reserve, to write reports on how they use smart computer programs. These reports will help make sure these programs follow the rules and work well without sharing any secret information.