Friday, January 19, 2024
The Consumer Electronics Show, held Jan. 9 to 12, in Las Vegas, showcased AI technology. In "CES 2024: 5 new tech products stealing the show this year," published Jan. 17, 2024, Live Science journalist Orla Loughran Hayes described laptops, smart televisions and even telescopes with embedded AI.
"The telescopes are fitted with 'autonomous field detection technology' that helps stargazers to locate and view astronomical objects," she wrote. "Pairing the telescopes with the Unistellar app (available on Android and iOS) means users with no prior experience can navigate the night sky easily and can save images of observed objects to share with their friends."
The National Retail Federation's annual convention and expo, held Jan. 14 to 16, in New York, explored approaches to AI implementation in exhibits, presentations and breakout sessions, beginning with an opening day discussion on reinventing retail for the AI generation.
Moderated by Christian Beckner, NRF's vice president, retail technology and cybersecurity, the panel included Suzy Davidkhanian, vice president, content at Insider Intelligence and Anshu Bhardwaj, senior vice president and chief operating officer for Walmart Global Technology and Walmart Commerce Technologies, Walmart.
"Retailers are entering a new phase of technological innovation — with artificial intelligence and machine learning at its core," NRF organizers wrote. "AI has emerged as the most effective way for retailers to turn data into value. In this session learn how Walmart is using AI to drive growth and competitive advantage across the business."
On Jan. 11, 2024, the House Financial Services Committee established a bipartisan AI Working Group. Led by Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill, R.-Ark., and Subcommittee Ranking Member Stephen F. Lynch, D.-Mass, the group will explore AI's impact on developing new products and services, preventing fraud, achieving and maintaining compliance and modernizing the workforce.
The HFSC noted this group will continue the Task Force on Artificial Intelligence established in the 116th and 117th Congresses. In a joint statement, working group co-chairs Rep. Hill and Rep. Lynch thanked HFSC Chair Patrick McHenry, R–NC, and Ranking Member Maxine Waters, D-Calif, for the opportunity.
"As AI rapidly advances, it is important that we examine its use, need for potential changes in U.S. laws and/or the regulatory framework for both effective oversight and ensuring global competitiveness," Hill stated.
Lynch also affirmed the need to match new tech with robust oversight, stating, "While financial institutions, financial technology companies, and government agencies are already utilizing artificial intelligence to facilitate the detection of financial crime, risk analysis, personalized customer services, consumer lending, and other critical functions, the evolving application of A.I. technologies must be paralleled by robust federal oversight and a regulatory framework that is adaptive to innovation and equipped to identify potential risks to American consumers.
Scott Talbott, executive vice president at the Electronic Transactions Association, praised the newly formed bipartisan AI Working Group. "Ai is rewriting how businesses engage," he stated. "ETA applauds the working group focusing on this issue."
Talbott also mentioned that growing interest in AI applications and deployments among ETA members prompted the association to establish the Artificial Intelligence (AI) Committee in May 2023. The committee will focus on leveraging AI technologies to make payments efficient and secure, he noted.
Chaired by Russell Moore, director of corporate strategy and development for Global Payments, with vice chairs Donald Riddick, CLO and company secretary at Featurespace, and Kevin Shamoun, senior vice president, product and innovation for Fortis, the committee will explore AI definitions, use cases and future applications, Talbott stated. 
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