[U.S. SEC Chairman: Simplification of AI tools will bring risks to the financial industry] Golden Finance reported that Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), said that too many brokerages and fund managers' excessive use of similar AI systems could lay the groundwork for future turmoil. Gensler said on Wednesday that if market participants "all rely on the same models, the same algorithms, the same data," a future financial crisis could occur.