At a two-hour hearing in Washington, D.C. on Friday, lawmakers questioned experts on bias in artificial intelligence, the struggle to attract skilled workers, and how to navigate and regulate an increasingly data-driven financial market, Bloomberg reports.

Why it matters, per Bloomberg: "The use of algorithms in electronic markets has automated the jobs of tens of thousands of execution traders worldwide, and it's also displaced people who model prices and risk or build investment portfolios," the former head of machine learning at AQR Capital Management LLC Marcos Lopez de Prado said.

What they're saying: “Financial machine learning creates a number of challenges for the 6.14 million people employed in the finance and insurance industry, many of whom will lose their jobs — not necessarily because they are replaced by machines, but because they are not trained to work alongside algorithms,” Lopez de Prado told the House Committee on Financial Services.

  • Kirsten Wegner, CEO of Modern Markets Initiatives called for regulation, recommending "funding resources, technological capacity and access to AI and automated technologies to be a strong and effective cop on the beat."
  • Rebecca Fender, senior director at the CFA Institute cited a survey of more than 3,800 respondents who anticipate their jobs to dramatically change over the next 5-10 years.

Go deeper... Big tech's next prey: Big Finance

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McMaster: Trump's peaceful transition comments are a "gift to our adversaries"

President Trump's refusal to commit to a peaceful transfer of power if he loses November's presidential election is a "gift to our adversaries," Trump's former national security adviser H.R. McMaster said Sunday.

The big picture: McMaster, a retired three-star general, said that the American people must understand that the military will have "no role" in a presidential transition and that it's "irresponsible" to even talk about it as a possibility.

Trump says Supreme Court ending Obamacare would be "a big WIN"

Photo: Spencer Platt/Getty Images

President Trump on Sunday tweeted that the Supreme Court invalidating the Affordable Care Act would be "a big WIN for the USA!"

Why it matters: Democrats have argued that confirming a Trump-appointed justice to the Supreme Court would put the Affordable Care Act, which protects pre-existing conditions, in jeopardy. Trump's Supreme Court pick, Amy Coney Barrett, has written that she disagreed with Chief Justice John Roberts when he ruled to uphold the law.

Trump sees court fight as virus respite

Spotted at Trump's rally last night at Harrisburg International Airport in Middletown, Pa. Photo: Joshua Roberts/Reuters

At a rally in Pennsylvania last night, President Trump basked in adulation for Judge Amy Coney Barrett and said, "She should be running for president!"

Why it matters: She might as well be. The Trump campaign is thrilled to be talking about something besides the president's handling of COVID, and it's going all-in to amp up the court conversation.