5 things about AI you may have missed today: Japan eyes AI guidelines, AI poses risk to financial stability, more

tech.hindustantimes.com:

A number of important events have happened today in AI space that seek to better harness the potential of this tool as well as highlight its negative aspects. Japan is to draft AI guidelines to address overreliance on the new tool; SEC Chair Gensler warns of AI risks to financial stability; Pastor who used AI for church service says It won't happen again; Creative professionals embrace AI image generators but warn about misuse- this and more in our daily roundup. Let us take a look.

Companies and organisations in Japan will be required to take measures to reduce overreliance on AI, according to draft guidelines by a government panel. The guidelines also call for AI developers to avoid using biased data and to maintain records of their interactions with the technology. The panel is expected to finalise the guidelines by the end of the year, according to theJapantimes report.

Gary Gensler, chair of the US Securities and Exchange Commission, has urged regulators to quickly find a way to manage risks posed to financial stability by the concentration of power in AI platforms. He warned that without swift intervention, it is "nearly unavoidable" that AI could trigger a financial crisis within a decade.

Gensler said that shaping AI regulation would be a tough test for US regulators, as potential risks cut across financial markets and stem from models crafted by tech companies that sit outside the remit of Wall Street watchdogs, according to a Financial Times report.

After using AI software to compose an entire church service, Pastor Jay Cooper says he will not be doing that again. He found himself uncomfortable with how AI presented Sacred Scripture and did not have the "human element" through which God communicates. The service