Congress Urged to Regulate AI Use on Wall Street.

Senator Ted Cruz has criticised Congress for its lack of understanding of AI regulation, stating that lawmakers should proceed cautiously and listen to experts. He warned that the US could fall behind China in implementing AI in the military, which would be "profoundly dangerous" for the country. While the EU has passed the Artificial Intelligence Act, which would ban facial recognition technology in public venues, the US is still struggling to balance setting rules for the nascent tech while also ensuring they don’t over-regulate it and stifle innovation.