(Washington, D.C.) – Last week, the House Financial Services Committee announced the formation of the Committee’s bipartisan Working Group on Artificial Intelligence (AI).
The group includes Representatives Erin Houchin (R-IN), Young Kim (R-CA), Mike Flood (R-NE), Zach Nunn (R-IA), Sylvia Garcia (D-TX), Ayanna Pressley (D-MA), Sean Casten (D-IL), Brittany Pettersen (D-CO) and will be led by Financial Services Committee Chairman Patrick McHenry (R-NC) and Ranking Member Maxine Waters (D-CA) as well as Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill (R-AR) and Ranking Member Stephen Lynch (D-MA).
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 that any new regulations consider both the potential benefits and risks associated with AI.
Recognizing the potential benefits for the region, Congresswoman Houchin is committed to keeping Southern Indiana at the forefront of innovation and opportunity while ensuring that 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,” says Congresswoman Houchin. “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.”
Congresswoman Houchin anticipates that 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, Congresswoman Houchin will continue to engage with constituents, industry experts, and local leaders to discuss potential impacts on Southern Indiana.
(Office of Congresswoman Erin Houchin press release)
