In a recent government meeting, the National Association of Federal Agents (NAFA) called on Congress to enact comprehensive legislation aimed at ensuring artificial intelligence (AI) serves the public good. Key proposals include strengthening civil and human rights protections, guaranteeing universal internet access, and enhancing consumer control over personal data. NAFA emphasized the importance of privacy-enhancing technologies and the need for accurate consumer notifications from entities utilizing AI.

The organization highlighted the necessity for human alternatives in AI systems, citing a recent global IT outage that disrupted airline services and banking institutions as a critical example of potential vulnerabilities in automated systems. NAFA's testimony underscored the urgency for federal employees to receive adequate training and resources to enforce laws effectively.

In a separate testimony, Nasdaq representatives discussed their governance of AI technology, emphasizing its role in enhancing the integrity of financial markets. Nasdaq's AI applications are being utilized to combat financial crimes, including drug smuggling, terrorism, and money laundering, which collectively accounted for an estimated $3.1 trillion in illicit funds in 2023. The firm reported that its cloud-based platform significantly improves financial crime risk management for institutions of all sizes.

Nasdaq's commitment to leveraging AI extends to market surveillance, where machine learning is employed to detect insider trading and market manipulation. The organization reiterated the importance of staying ahead of criminals who also utilize advanced technologies, reinforcing the need for innovative solutions in the fight against financial crime.

Both testimonies reflect a growing recognition of the dual-edged nature of AI technology, highlighting the need for robust regulatory frameworks to protect society while harnessing its potential benefits.