Congressional representatives at a hearing of the Task Force on Artificial Intelligence of the House Financial Services Committee on Friday expressed concern about the dramatic increase in use of cloud service providers by bankers and how that data in the cloud can best be protected.
Consolidation of cloud service providers also seemed to trouble some lawmakers. Amazon Web Services controls 48 percent of the cloud computing market, noted Meredith Broussard, a computer scientist who is an associate professor at New York University, in testimony prepared for the hearing. Together, Amazon, Google, Microsoft, and Alibaba “control 76 percent of the worldwide market for cloud computing,” Broussard said.
