AI emerges as new risk for US financial system: Bessent
WASHINGTON: Artificial intelligence has emerged as a priority risk for the US financial system, with Treasury Secretary Scott Bessent telling Congress that regulators are stepping up oversight of how AI is used across markets and institutions.
Testifying before the Senate Banking Committee, Bessent said AI is one of four focus areas in the Financial Stability Oversight Council’s 2025 annual report. “The council is prioritizing the responsible use of artificial intelligence to strengthen financial stability,” he said.
He said AI is increasingly used in compliance, fraud detection and risk management, but warned of new vulnerabilities. “AI can be a great tool, but AI can also be a risk through state and non-state actors,” Bessent said.
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