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Microsoft CDR (CAD Hedged)
Symbol MSFT
Shares Issued 8,850,000
Close 2023-07-13 C$ 25.52
Market Cap C$ 225,852,000
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Globe/NYT say FTC probes Microsoft-backed OpenAI

2023-07-14 07:36 ET - In the News

The Globe and Mail reports in its Friday, July 14, edition that the Federal Trade Commission has opened an investigation into OpenAI, the Microsoft-backed artificial intelligence start-up that makes ChatGPT, over whether the chatbot has harmed consumers through its collection of data and its publication of false information. A New York Times dispatch to The Globe reports that in a 20-page letter sent to the San Francisco company this week, the agency said it was also looking into OpenAI's security practices. The FTC asked OpenAI dozens of questions in its letter, including how the start-up trains its AI models and treats personal data, and said the company should provide the agency with documents and details. The FTC is examining whether OpenAI "engaged in unfair or deceptive privacy or data security practices or engaged in unfair or deceptive practices relating to risks of harm to consumers," the letter said. The investigation was reported earlier by The Washington Post and confirmed by a person familiar with the investigation. The FTC investigation poses the first major U.S. regulatory threat to OpenAI, one of the highest-profile AI companies. The NYT notes the FTC is acting on AI with notable speed.

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