Ajay Agrawal on SEC regulation
From Fireside Chat (Ted Livingston & Ajay Agrawal) - CDL Super Session 2019 · · Creative Destruction Lab
“The Securities Exchange Commission in the United States has made it clear that they don't like cryptocurrencies. The chairman of the SEC Jay Clayton has said on the record that in his view every cryptocurrency that has done a token sale in his view has done an illegal securities offering. If cryptocurrencies were found to be securities it would kill all of their utility. If every time I wanted to buy something from the App Store I had to go to my broker dealer and first buy a share of Apple stock nobody would do it. And so this has the potential to shut down the entire industry.”
On , Ajay Agrawal, Senior VP of Global Services & Chief Business Development Officer at Carrier Global, spoke about SEC regulation during Fireside Chat (Ted Livingston & Ajay Agrawal) - CDL Super Session 2019 on Creative Destruction Lab.
About Ajay Agrawal
Ajay Agrawal, a professor at the University of Toronto's Rotman School of Management and founder of the Creative Destruction Lab, has continued to discuss the economic implications of artificial intelligence in a series of appearances. He has described AI as "computational statistics that does prediction," arguing that its power comes from reframing problems—such as driving, email replies, and inspection—as prediction problems. Agrawal contrasted "point solutions," where AI is used to improve an existing process, with "system redesigns," such as Uber's use of navigational AI to create a new transportation model. He has also discussed the development of a humanoid robot capable of performing a variety of tasks, stating that such projects are progressing quietly and that the capabilities demonstrated by ChatGPT are being replicated in other domains. Agrawal has addressed the societal implications of AI, including the potential for machines to eventually perform all work. He has argued for a balanced approach to AI regulation, stating that while investment in safety and policy is needed, slowing down AI development would be a mistake due to its potential benefits in areas like healthcare and climate. He has also noted that the cost of prediction is falling, leading to increased use of AI for both familiar and novel applications.