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Banking rules are coming to AI

The Biden administration will soon ask artificial intelligence companies to comply with federal rules most commonly applied to banks and other financial services companies: know-your-customer, or KYC, rules.

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Cloud Computing illustration.

IMAGO/Westlight via Reuters Connect

Enter the cloud wars

The Biden administration proposed new rules on Monday placing know-your-customer requirements on cloud service providers. This is the government’s latest step aimed chiefly at keeping China at bay.

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