Early to Party? Ripple CTO Emeritus Reacts to Ex-SEC Chair Gensler's 2020 AI Paper
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Ripple CTO emeritus David Schwartz revisited Gary Gensler’s 2020 AI paper and said he agreed with much of its concern about financial risk. The paper warned that broad use of deep-learning systems could make markets more fragile if institutions rely on similar models, data, and optimization methods.
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What it means
Ripple CTO emeritus David Schwartz is the figure most directly affected in the near term, because he publicly revisited Gensler’s 2020 AI paper and aligned himself with much of its risk framing. That puts renewed attention on the market-risk concerns in the paper for readers following crypto and financial regulation news.
In practice, the paper’s warning keeps the focus on a scenario where many institutions use similar deep-learning models, data, and optimization strategies. What changes here is the level of attention on that warning; what does not change is that the paper is still a 2020 document discussing a risk scenario rather than announcing a rule or a market action.
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