Thank you, Mr. Chairman. Yes, Mr. Lynch. I just want to do a comparison of the FSOC reports, let's go back to 2024 and then we'll talk about the current report. In the previous [2024 FSOC] report, the members of FSOC expressed serious concerns related to potential risk to financial stability regarding the lack of explainability and high complexity of AI. and the approaches that have a potential to heighten financial instability, especially in the areas of bias and discrimination in credit decisions. That was in 2024. (03:12–03:42)
CLAIM
Asserts that the 2024 FSOC report expressed concerns about AI's lack of explainability and complexity.
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