Gary Gensler says the AI boom comes with real risks, not just hype. He also flagged broader worries about what these systems can do. Guardrails are possible, he said, but competition with China adds what he called a "big, consequential wrinkle."
Gensler also raised a dollars-and-cents concern: US AI developers are "spending so much," and he questioned whether current revenue lines justify that outlay. The US may be in front for now, he said, but there is still a possibility that American companies end up tapping Chinese competitors.
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Earlier this month, top AI leaders asked to slow progress on their most advanced systems. Donald Trump quickly shot that down, and the president has since rejected calls for an international agreement to add AI guardrails. "This is a real challenge, I know the president calls it a hoax," Gensler said, referring to Trump's dismissal of AI fears. "I differ with the president on that."
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