SEC Chief Warns Unregulated AI Could Spark Financial Crisis Within 10 Years

SEC chief Gensler warns AI could cause financial crisis in next decade without more regulation

Gensler says crisis likely in late 2020s or early 2030s as institutions rely on same models

Warns herd mentality from shared models could undermine stability

SEC proposed rule in July to rein in broker use of AI putting their interests above investors'

Gensler says SEC rule doesn't address "horizontal issue" that could produce crisis