US Senate Majority Leader pushes for AI regulation: should AltSignals investors worry?

The US Senate Majority Leader Chuck Schumer believes that Congress “must move quickly” to regulate artificial intelligence (AI). The move comes as more companies embrace AI technology with some having already launched AI products and others like trading signals service provider AltSignals already working on AI products.

The majority senate leader has already convened a bipartisan group of senators to work on legislation. The group met on Wednesday.

Schumer also says that his staff has also met with about 100 CEOs, academics, and scientists in the AI field. In his opening remarks on the Senate floor on Thursday, Schumer said that there was no time for waste or delay or sitting back but at the same time noted that they don’t want to come up with flawed legislation.

What does the legislative push mean for artificial intelligence projects like AltSignals’ ActualizeAI?

The rare legislative push by Schumer comes as potentially groundbreaking AI products like the recently launched AI chatbot ChatGPT seek to mimic human behaviour. These tools have raised concerns about giving misleading information, spreading falsehoods, disrupting jobs, and violating copyright protections.

Last week, the CEO of OpenAI, Sam Altman, the company that created ChatGPT, told a Senate panel that government intervention will be crucial in preventing the risks of increasingly powerful AI systems. The CEO said:

“As this technology advances, we understand that people are anxious about how it could change the way we live. We are too.”

Altman recommended the creation of a US or global agency to license powerful AI systems and take away the license if compliance is not met.  

While Schumer’s legislative push will impact companies working on artificial intelligence products, it is expected to mostly focus on those products that aim to mimic human acts like speaking, texting, writing, etc. That means products like the ActualizeAI being developed by AlSignals could likely not feel much of an impact.

What makes Altsignals’ ActualizeAI different?

AltSignals has been providing trading signals and developing algorithm-based technical indicators to assist financial markets traders profit from price movements since 2017. It started by sending crypto trading signals before expanding to CFDs, shares, and Forex trading signals.

Currently, AltSignals provides fundamental and technical analysis and coaches and helps clients with placing trades and profiting from the trades. It uses a technical indicator called AltAlgo Indicator to generate trading signals.

The AltAlgo indicator currently uses multiple trading strategies and technical indicators to identify trading opportunities and alerts the AltSignals users when a good trading opportunity appears.

However, Altsignals is seeking to leverage AI technology to improve the efficiency of its services and it is currently working on an AI-based algorithm. The AI algorithm will take the best-performing algorithm including the AltAlgo indicator and use that to build a suite of AI products one of them being the ActualizeAI powered by the ASI cryptocurrency.

Should I invest in AltSignals?

Well, there are several factors to consider when investing in a cryptocurrency project, especially when the project is new.

One, and possibly the most important factor, is looking for a legit crypto project. One way of determining ng if a project is legit is determining if the parent company is trustworthy and has a strong track record of results.

AltSignals has been in operation for five years and it has a proven track record in the trading signals business; meaning it is a trustworthy company. The information on the AltSignals website shows that AltSignals Binance Spot and Futures signals as well as Forex signals have been consistently profitable month on month with an accuracy of above 50%.

The accuracy of these signals is expected to increase considerably once the ActualizeAI algorithm is completed and integrated into the platform, something which will make AltSignals among the best cryptocurrency and Forex trading signals providers likely creating a surge in the ASI token demand and price.

The ASI cryptocurrency is currently in the presale stage and you can purchase it here.