CFTC appoints first chief AI officer to lead data and AI strategy – Compliance Week
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– Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By
Adrianne Appel2024-05-02T18:51:00+01:00
The Commodity Futures Trading Commission (CFTC) appointed its first artificial intelligence chief to lead the agency’s efforts to further integrate AI into its operations.
Ted Kaouk, who joined the CFTC in December as chief data officer and director of its Division of Data, will assume the role of chief data and AI officer. Kaouk will lead the creation of the CFTC’s enterprise data and AI strategy, the commission announced Wednesday.
Kaouk, who began his career as a U.S. Navy surface warfare officer, previously led AI and data strategy efforts at the Office of Personnel Management and the U.S. Department of Agriculture. He served as the first chair of the Federal Chief Data Officers Council from 2020 until January.
The CFTC created Kaouk’s new position as it readies to step up its oversight of AI in the commodities marketplace. The agency is preparing to draft new guidance, advisories, and potential rules about the use and misuse of AI, based on forthcoming recommendations from its future of finance subcommittee.
The subcommittee will launch a survey to gather more information, following a commission request for comment in January.
The CFTC sought comments about AI use for compliance, in addition to trading, risk management, cybersecurity, recordkeeping, data processing and analytics, and customer interactions. The agency asked about the potential impact of AI on surveillance, anti-money laundering, regulatory reporting, and other compliance functions.
“Enhanced data analytics and artificial intelligence have the potential to transform the CFTC’s long-term capabilities for oversight, surveillance, and enforcement in the derivatives markets,” said CFTC Chair Rostin Behnam in the agency’s release. “As one of my top priorities, the CFTC has been deeply engaged in efforts to deploy an enterprise data and artificial intelligence strategy to modernize staff skillsets, instill a data-driven culture, and begin to leverage the efficiencies of AI as an innovative financial markets regulator.
“Ted has the requisite technical and leadership experience needed to lead and implement the CFTC’s data and AI roadmap at this critical stage to achieve the best outcomes for the CFTC and those it serves.”
Compliance Week accepts outside contributions from corporate chief compliance officers and other senior-level GRC practitioners. To learn more, contact the CW Editor.
2024-04-26T15:46:00Z
Kristin Johnson of the Commodity Futures Trading Commission called for the agency to launch initiatives addressing the use—and misuse—of artificial intelligence tools in commodities markets.
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On the heels of a warning by the deputy attorney general that the agency will seek stiffer penalties in cases involving the misuse of artificial intelligence, the Department of Justice announced Jonathan Mayer as its first chief AI officer.
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The Commodity Futures Trading Commission announced two appointments to its Division of Data designed to help the agency leverage analytics and emerging technologies to improve its policymaking and oversight efforts.
2024-05-10T19:30:00Z
The Department of Justice’s Antitrust Division created a new task force to examine collusion and monopolies in the healthcare industry.
2024-05-07T19:47:00Z
Federal regulators adopted a notice of proposed rulemaking on incentive-based compensation requiring large banks to make their executive compensation arrangements “more sensitive to risk.”
2024-05-03T21:20:00Z
The “American Privacy Rights Act” has steep hills to climb if it’s ever going to become law, but that’s no reason for businesses to delay their privacy tune-ups.
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This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
– Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By
Adrianne Appel2024-05-02T18:51:00+01:00The Commodity Futures Trading Commission (CFTC) appointed its first artificial intelligence chief to lead the agency’s efforts to further integrate AI into its operations.
Ted Kaouk, who joined the CFTC in December as chief data officer and director of its Division of Data, will assume the role of chief data and AI officer. Kaouk will lead the creation of the CFTC’s enterprise data and AI strategy, the commission announced Wednesday.
Kaouk, who began his career as a U.S. Navy surface warfare officer, previously led AI and data strategy efforts at the Office of Personnel Management and the U.S. Department of Agriculture. He served as the first chair of the Federal Chief Data Officers Council from 2020 until January.
The CFTC created Kaouk’s new position as it readies to step up its oversight of AI in the commodities marketplace. The agency is preparing to draft new guidance, advisories, and potential rules about the use and misuse of AI, based on forthcoming recommendations from its future of finance subcommittee.
The subcommittee will launch a survey to gather more information, following a commission request for comment in January.
The CFTC sought comments about AI use for compliance, in addition to trading, risk management, cybersecurity, recordkeeping, data processing and analytics, and customer interactions. The agency asked about the potential impact of AI on surveillance, anti-money laundering, regulatory reporting, and other compliance functions.
“Enhanced data analytics and artificial intelligence have the potential to transform the CFTC’s long-term capabilities for oversight, surveillance, and enforcement in the derivatives markets,” said CFTC Chair Rostin Behnam in the agency’s release. “As one of my top priorities, the CFTC has been deeply engaged in efforts to deploy an enterprise data and artificial intelligence strategy to modernize staff skillsets, instill a data-driven culture, and begin to leverage the efficiencies of AI as an innovative financial markets regulator.
“Ted has the requisite technical and leadership experience needed to lead and implement the CFTC’s data and AI roadmap at this critical stage to achieve the best outcomes for the CFTC and those it serves.”
Compliance Week accepts outside contributions from corporate chief compliance officers and other senior-level GRC practitioners. To learn more, contact the CW Editor.
2024-04-26T15:46:00Z
Kristin Johnson of the Commodity Futures Trading Commission called for the agency to launch initiatives addressing the use—and misuse—of artificial intelligence tools in commodities markets.
2024-02-22T19:33:00Z
On the heels of a warning by the deputy attorney general that the agency will seek stiffer penalties in cases involving the misuse of artificial intelligence, the Department of Justice announced Jonathan Mayer as its first chief AI officer.
2023-12-21T17:40:00Z
The Commodity Futures Trading Commission announced two appointments to its Division of Data designed to help the agency leverage analytics and emerging technologies to improve its policymaking and oversight efforts.
2024-05-10T19:30:00Z
The Department of Justice’s Antitrust Division created a new task force to examine collusion and monopolies in the healthcare industry.
2024-05-07T19:47:00Z
Federal regulators adopted a notice of proposed rulemaking on incentive-based compensation requiring large banks to make their executive compensation arrangements “more sensitive to risk.”
2024-05-03T21:20:00Z
The “American Privacy Rights Act” has steep hills to climb if it’s ever going to become law, but that’s no reason for businesses to delay their privacy tune-ups.
Site powered by Webvision Cloud
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
