Houchin
The U.S. House financial services committee recently announced the formation of a bipartisan working group on artificial intelligence.
The group includes Indiana Ninth District Congresswoman Erin Houchin, Young Kim, R-California, Mike Flood, R-Nebraska, Zach Nunn, R-Iowa, Sylvia Garcia D-Texas, Ayanna Pressley, D-Massachusetts, Sean Casten, D-Illinois, and Brittany Pettersen, D-Colorado, and will be led by financial services committee chairman Patrick McHenry, R-North Carolina, and Ranking Member Maxine Waters, D-California, as well as digital assets, Financial Technology and Inclusion Subcommittee Chairman French Hill, R-Arkansas, and Ranking Member Stephen Lynch, D-Massachusetts.
According to a news release from Houchin’s office, the working group will examine the current and future impact of AI on the financial services and housing industries, including on the workforce, and the development of products and services.
It will also explore how lawmakers can ensure any new regulations consider both the potential benefits and risks associated with AI.
Recognizing the potential benefits for the region, Houchin said she is committed to keeping southern Indiana at the forefront of innovation and opportunity while ensuring AI is used responsibly and ethically.
“As we witness the growing convergence of artificial intelligence and financial services, it is vital that we assess both the benefits and dangers of this rapidly advancing technology,” Houchin said. “Innovation in AI presents opportunities for economic growth, job creation and increased efficiency in our local financial institutions, but we must also be alert to the potential dangers and need for guardrails. I look forward to working with my colleagues on this effort to ensure that the U.S. is well-equipped to use this transformative technology.”
Houchin anticipates this group will fuel discussions on policy initiatives to position the United States as a hub for innovation in the rapidly evolving landscape of AI technology.
To further address the implications of these advancements, Houchin will continue to engage with constituents, industry experts and local leaders to discuss potential impacts on southern Indiana.