The Securities and Exchange Commission (SEC) has set up a new task force that will be focused on strengthening the agency's activities through the responsible use of AI.

The independent federal agency in the US that oversees the securities industry and financial markets said the taskforce will seek to centralise the agency's efforts and enable internal collaboration SEC divisions and disciplines through the implementation of responsible AI applications across its teams.

SEC chairman Paul S. Atkins said that the goal of the AI taskforce is to provide the agency’s staff with AI -based tools and systems to boost staff capabilities and improve efficiency and accuracy.

“By ingraining innovation into our culture SEC-wide, we will further our mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation,” he added.

As part of the move, Valerie Szczepanik, who is currently head of the strategic hub for innovation and financial technology at the SEC, has been appointed chief AI officer.

Szczepanik will be tasked with leading the new taskforce.

She was previously senior advisor for digital assets and innovation and an associate director in the SEC’s Division of Corporation Finance.

Before that, she served as assistant director in the Division of Enforcement.

Commenting on her appointment, Szczepanik said: “I look forward to accelerating work already underway in the SEC’s divisions and offices to build enterprise capacity for AI innovation and implement AI solutions that are trustworthy, effective, and mission enhancing.”

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