11 Our existing regulatory and supervisory guardrails are a good place to start as we assess the appropriate approach for AI processes. The National Science and Technology Council, in an extensive study addressing regulatory activity generally, concludes that if an AI-related risk “falls within the bounds of an existing regulatory regime, . . .
the policy discussion should start by considering whether the existing regulations already adequately address the risk, or whether they need to be adapted to the addition of AI.” 12 A recent report by the U.S. Department of the Treasury reaches a similar conclusion with regard to financial services.