Key facts
- A coalition of U.S. state attorneys general is investigating OpenAI.
- OpenAI has been served with a subpoena by the state attorneys general.
- The subpoena requests documents on OpenAI's operations and user impact.
- The investigation includes data handling, minors, and seniors.
- The probe adds to OpenAI's legal challenges.
- OpenAI is reportedly preparing for an IPO.
- U.S. banking regulators are increasing scrutiny of AI use in financial firms.
- Regulators are focusing on data access, governance, and third-party risks.
- The OCC and Federal Reserve are asking detailed questions about AI implementation.
A coalition of U.S. state attorneys general has initiated a broad investigation into OpenAI, the company behind ChatGPT. The attorneys general have served OpenAI with a subpoena, demanding documents related to its operations and user impact. The scope of this investigation is extensive, covering critical areas such as data handling practices, policies concerning minors and seniors, and internal company policies. This probe introduces new legal challenges for OpenAI, particularly as the company is reportedly preparing for an initial public offering (IPO).
In parallel, U.S. banking regulators are intensifying their examination of how financial institutions are deploying artificial intelligence. Key areas of focus for these regulators include data access, the governance frameworks surrounding AI implementation, and the identification and management of third-party risks associated with AI technologies. Specifically, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve are posing detailed questions to financial firms about their AI strategies, particularly in sensitive areas like lending and customer verification processes.