Data Privacy & Security Data Privacy & Security

US SEC’s Gensler warns of securities-market concentration among cloud-computing providers with AI

The securities industry’s outsourcing to just a few cloud-computing providers that rely on artificial intelligence to process massive data volumes creates market concentration that poses systemic risk, said Gary Gensler, head of the US Securities and Exchange Commission.
“We could turn around in the year 2027 or 2032 and say,

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Neil Roland

Senior Correspondent

Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in public policy from Harvard and a Bachelors degree in economics from Cornell.

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