CFTC Appoints Dr. Ted Kaouk as First Chief AI Officer

The Commodity Futures Buying and selling Fee (CFTC) has introduced the appointment of Dr. Ted Kaouk as its first Chief Synthetic Intelligence Officer. As Dr. Kaouk is now appearing because the Chief Information Officer and Director of the Division of Information on the CFTC, he’ll broaden his duties to supervise the event and execution of the CFTC’s total information and synthetic intelligence technique.

This progress is meant to boost oversight, surveillance, and enforcement, in addition to different segments of the derivatives market during which the CFTC operates.

The CFTC now has a “Chief AI Officer”

What a time to be alive pic.twitter.com/fXZHz7eZzv

— M.B. (@741trey) May 1, 2024

Chairman Rostin Behnam highlighted the significance of superior information analytics and synthetic intelligence in evolving the operational programs of the CFTC. In Chairman Behnam’s phrases, Dr. Kaouk’s deep technical information and prior profitable management are important for driving the CFTC’s initiatives at this present time. The inclusion of AI into the company’s actions is anticipated to improve units of expertise, domesticate information utilized tradition, and use AI for innovation inside monetary market guidelines.

Background and Experience of Dr. Ted Kaouk

Previous to being at CFTC, Dr. Kaouk occupied positions in numerous authorities companies. He was the Chief Information Officer on the Workplace of Personnel Administration (OPM), the place his function was to develop the primary federal government-wide human capital information technique.

Amongst his accomplishments is the creation of the primary enterprise information analytics and AI platform on the U.S. Division of Agriculture. Dr. Kaouk’s management was additionally evident in his place as the primary Chair of the Federal Chief Information Officers Council, which he led from its creation in 2020 till January 2024.

Dr. Kaouk’s skilled journey started as a floor warfare officer within the U.S. Navy, after which he went on to pursue his training in famend tutorial facilities. He acquired his undergraduate diploma from the U.S. Naval Academy, his grasp’s diploma from the College of Virginia, and his PhD is from the College of Maryland, Faculty Park.

AI Day and the Way forward for AI in Monetary Regulation

In step with the announcement of Dr. Kaouk’s new function, the Fee’s Know-how Advisory Committee (TAC), held underneath the sponsorship of Commissioner Christy Goldsmith Romero, has launched the agenda for the upcoming “AI Day.” This occasion will probably be held on the CFTC’s Washington, D.C. headquarters, the place the accountable introduction of AI in regulated monetary providers will probably be mentioned. The day’s classes may even contain enter from AI consultants throughout totally different sectors, together with authorities regulators and the non-public sector.

“AI Day” Agenda Introduced for Might 2 @CFTC Know-how Advisory Committee Assembly: https://t.co/r2WTmf7GY5

— CFTC (@CFTC) May 1, 2024

The workshops will handle a couple of essential subjects, amongst which is Sunayna Tuteja, the Chief Innovation Officer of the Federal Reserve Board, presenting the function of AI in driving accountable innovation on the Federal Reserve. Extra displays will concern market automation, the NIST AI Threat Administration Framework, and the U.S. Treasury Division’s report on AI in monetary sector cyber safety. The aim of those discussions is to mirror on the appliance and regulation of AI gear within the monetary markets.

Concurrently, the AI Day occasion encourages public participation both in individual or by a stay webcast accessible on the CFTC’s official web site. This initiative is part of the TAC’s steady endeavor to create the bottom for knowledgeable conversations concerning the challenges of AI applied sciences on the interface of expertise, regulation, and coverage.

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