The Commodity Futures Trading Commission (CFTC) has appointed Dr. Ted Kaouk as its first AI chief officer.
Dr. Kaouk, currently the Chief Data Officer at CFTC, will be responsible for the design of the agency’s data and AI strategy. This action tries to strengthen monitoring, surveillance, and enforcement in the derivatives market.
The chairman of CFTC, Rostin Behnam, highlighted the role of AI in the modernization of the agency’s systems. The leadership skills of Dr. Kaouk are crucial for this initiative, having previously managed data strategies at government agencies.
Chairman Rostin Behnam said, “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.”
Dr. Kaouk had professional experience with the Office of Personnel Management and the U.S. Department of Agriculture, where he implemented data analytics and AI platforms. Kaouk is now appointed to spearhead AI initiatives at CFTC.
Additionally, CFTC’s Technology Advisory Committee (TAC) will organize an “AI Day” to address AI in financial regulation on the same day. Experts like Sunayna Tuteja from the Federal Reserve Board will cover the topic of responsible AI use in the financial sector.
The event will promote public involvement in person or via webcasting as part of the effort of TAC to build an informed forum on AI challenges in the financial sector.
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