'CATEGORICALLY FALSE': FTC chairman PUSHES BACK on argument that AI has no guardrails

• FTC Chairman Andrew Ferguson asserts that existing legal guardrails, like the FTC Act, apply to all industries, including AI firms, countering accusations of 'going easy' on Big Tech.
• He confirms ongoing FTC investigations into AI model risks from companies like Anthropic and OpenAI, focusing on consumer deception and unfair practices.
• Ferguson highlights the importance of America winning the AI race against competitors like China, ensuring American consumers and citizens benefit from the technology while being protected.
• The FTC collaborates with other federal government partners, including the Department of War, and employs engineers/technologists to understand AI and enforce laws effectively.
• Concerns about cybersecurity risks, such as Chinese AI breaching banks, are part of the FTC's focus on understanding product risks and protecting consumers and businesses.

FTC Chairman Andrew Ferguson discusses the regulatory approach to artificial intelligence, pushing back against claims of leniency towards Big Tech. He emphasizes the application of existing legal guardrails and ongoing investigations to ensure consumer protection and fair competition, while also advocating for American dominance in the global AI race.