Google DeepMind CEO's FINRA-style AI self-regulation proposal gains traction amid conflict-of-interest concerns
Demis Hassabis, CEO of Google DeepMind, proposed creating a U.S. AI self-regulatory body modeled on FINRA, which oversees stock brokers. The idea has gained support from tech leaders including Microsoft CEO Satya Nadella, Block CEO Jack Dorsey, OpenAI CEO Sam Altman, and Elon Musk. The Trump administration is reportedly considering a similar body overseen by the SEC, with Treasury Secretary Scott Bessent involved in developing the proposal. Hassabis suggests funding from leading AI labs, independent technical experts on the board, and voluntary model testing 30 days before release, potentially becoming mandatory. Critics, citing FINRA's history of conflicts of interest and criticism from Senator Elizabeth Warren, question whether such a model can effectively regulate AI without being captured by the industry it oversees.
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