Comment Text:
April 24, 2024
Christopher Kirkpatrick, Secretary
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Re: Request for Comment on the Use of Artificial Intelligence in CFTC Regulated Markets
Dear Mr. Kirkpatrick,
Thank you for the opportunity to comment.
Several valuable comments have been posted by others, so I won’t repeat what they’ve written.
It is worth reviewing John McCarthy’s paper on what is AI.
http://jmc.stanford.edu/articles/whatisai/whatisai.pdf
I can personally attest to the fact that we used a form of AI at Salomon Brothers as early as 1988.
Also in the late 1980s we were approached by a small company out of Palo Alto, CA selling neural network software, but it was not yet ready for prime time as the technology was not quite there yet.
As a former practitioner of quantitative trading using various technologies, but also aware of the marketing hype regarding generative AI, I urge the CFTC not to fall for the hype and not to create regulation which would stifle innovation.
My comments are brief as we are in the midst of the Passover holiday.
Sincerely,
Abraham (Abe) Kohen
Tzfat, Israel
