Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Bluecopa Raises $7.5 Million to Transform Financial Processes with AI

January 13, 2026

C3 AI Explores Sale Following CEO Exits and Other Speculations

January 12, 2026

The UK financial industry is increasingly focusing on skills in AI, data, and compliance for recruitment.

January 12, 2026

Fintech lender Kissht receives SEBI approval for over Rs 1,000 crore IPO; Vertex Ventures and others divest shares.

January 12, 2026
Facebook X (Twitter) Instagram
Trending
  • Bluecopa Raises $7.5 Million to Transform Financial Processes with AI
  • C3 AI Explores Sale Following CEO Exits and Other Speculations
  • The UK financial industry is increasingly focusing on skills in AI, data, and compliance for recruitment.
  • Fintech lender Kissht receives SEBI approval for over Rs 1,000 crore IPO; Vertex Ventures and others divest shares.
  • MAS suggests regulatory adjustments to streamline dual listings on SGX and Nasdaq.
  • MoonPay and Strike withdraw from the Hungarian cryptocurrency market due to regulatory shifts.
  • Fintech startup Skydo receives final approval from RBI for international payments
  • Key AI Regulatory Compliance Challenges for Financial Institutions in 2026
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    Fintech Titan or Overhyped Relic?

    January 7, 2026

    PayPal joins other fintech companies benefiting from Trump-era deregulation.

    December 16, 2025

    Zilch, the fintech unicorn, secures payment license from city regulator.

    December 10, 2025

    MobileMoney Fintech Reorganizes; Shareholders Endorse Merger and Waiver at Extraordinary General Meeting

    December 1, 2025

    Axis CRE Fund and Tishman Speyer launch Chennai FinTech City

    November 28, 2025
  • AI

    Bluecopa Raises $7.5 Million to Transform Financial Processes with AI

    January 13, 2026

    The UK financial industry is increasingly focusing on skills in AI, data, and compliance for recruitment.

    January 12, 2026

    Broadridge Acquires Stake in DeepSee, a Utah-Based AI Startup Focusing on Automated Agents for Financial Services.

    January 8, 2026

    The impact of AI on financial trading and investment approaches.

    January 8, 2026

    The impact of generative AI on the financial sector in 2026

    January 8, 2026
  • Acquisitions

    Flutterwave acquires Nigerian Mono in a unique exit for African fintech.

    January 6, 2026

    MergersandAcquisitions.net publishes a comprehensive report on trends and analyses in financial services and fintech mergers and acquisitions.

    December 23, 2025

    Teybridge Capital Europe finalizes strategic purchase of London-based fintech company Atom CTO

    November 18, 2025

    Highlights from Santa Cruz County business: local fintech firm’s recent acquisition; startup showcases a surf helmet on Shark Tank

    November 12, 2025

    Ripple Becomes a Comprehensive Fintech Hub Following Hidden Road Acquisition, Reports TradingView News

    November 11, 2025
  • Trends

    Trends in Emerging Fintech Technologies Emphasize Wealth Management

    January 8, 2026

    GCC Fintech Landscape: Embracing Open Banking, Nurturing Startups, and Investment Patterns

    January 7, 2026

    eLEND Solutions Introduces Fintech Platform to Simplify Financing and Credit for Dealerships – Pete MacInnis

    January 6, 2026

    Saudi Arabian fintech sector projected to grow to $4.8 billion by 2034

    December 22, 2025

    Swiss Fintech Market 2025 – Key Regions and Recent Updates

    December 15, 2025
  • Insights

    Wealthfront aims for a valuation of as much as $2.05 billion in its U.S. IPO, according to CTV News.

    January 7, 2026

    New UNF collaboration seeks to promote fintech innovation – Action News Jax

    December 27, 2025

    Recent fintech software failures spark industry-wide discussion on system resilience.

    December 22, 2025

    MobileMoney Ltd recognizes leading FinTech partners and industry figures at the 2025 FinTech Stakeholder Dinner and Awards.

    December 11, 2025

    MobileMoney Fintech undergoes restructuring as shareholders consent to merger and waiver during EGM

    December 2, 2025
  • Rumors

    C3 AI Explores Sale Following CEO Exits and Other Speculations

    January 12, 2026

    Revolut plans to acquire the Turkish bank FUPS to expand into a new market.

    January 7, 2026

    The Impact of Banks and Money Trends: Facts vs. Myths

    January 4, 2026

    Examination of Reality at $0.23 as GCV Excitement is Exposed as False

    December 15, 2025

    This week’s rumors focus on major breweries, robotics, and multi-million dollar auctions.

    November 22, 2025
  • Startups

    Fintech lender Kissht receives SEBI approval for over Rs 1,000 crore IPO; Vertex Ventures and others divest shares.

    January 12, 2026

    Fintech startup Skydo receives final approval from RBI for international payments

    January 9, 2026

    Fintech investments rise, Nitro secures $5 million, and India explores the future of semiconductor technology.

    January 8, 2026

    Promising Canadian Fintech Startups to Keep an Eye on in 2026

    January 7, 2026

    Flutterwave Purchases Nigerian Open Banking Company Mono – A Strategic Step Towards Tokenized Financial Systems – BitKE

    January 6, 2026
  • finjobsly
fintechbits
Home » Illinois bans the use of AI for therapeutic purposes without clinician involvement.
AI in Finance

Illinois bans the use of AI for therapeutic purposes without clinician involvement.

3 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
1755104581 ai artificial intelligence docs robot westend61 getty20images.jpg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Illinois Legislation Regulates AI in Mental Health Services

Illinois Governor JB Pritzker has recently signed legislation that restricts the use of artificial intelligence (AI) in therapy and psychotherapy, mandating that any AI applications in these areas be supervised by approved clinicians. This move aims to enhance patient safety and maintain the quality of mental health services.

Prohibition of AI in Therapeutic Decision-Making

The new law explicitly prohibits the use of AI for aiding mental health and therapeutic decision-making. However, it allows the implementation of AI in administrative tasks and support services, provided they are utilized by certified behavioral health professionals. This limitation is put in place to ensure that patients receive care from qualified individuals rather than relying on unregulated AI systems.

Intent Behind the Legislation

Governor Pritzker emphasized that the legislation prioritizes patient safety, job security for qualified healthcare providers, and the protection of vulnerable populations, particularly children. “The residents of Illinois deserve quality health care from real and qualified professionals, not from AI systems pulling information from various online sources,” stated Mario Treto Jr., Secretary of the Illinois Financial and Professional Regulatory Department (IDFPR).

Concerns Over AI in Therapy

The Illinois General Assembly and the National Association of Social Workers’ Illinois chapter have expressed concerns regarding the risks of employing AI in direct therapeutic treatment. A notable example is a report from the Washington Post, which revealed how an AI therapist irresponsibly advised a fictional drug addict to use methamphetamine. Such instances underscore the potential dangers of unregulated AI applications in sensitive areas like mental health.

Expert Testimonies and Regulatory Oversight

During a 2024 joint hearing, experts indicated that “AI algorithms are as effective as the data on which they are trained.” Legislators were advised to be cautious about viewing AI as a cost-effective shortcut to professional medical care. The IDFPR is authorized to investigate violations of this new law, with confirmed breaches leading to fines of up to $10,000.

Addressing the Risks of Unqualified AI

State representative Bob Morgan (D-Deerfield) highlighted the growing awareness of the risks posed by unqualified chatbots that offer harmful non-clinical advice during vulnerable periods. He reassured Illinois residents that while they will still have access to therapeutic applications, the legislation aims to protect individuals requiring real mental health services from inadequate AI interventions.

Future of AI in Health Care

In its 2024 report, the Congressional Budget Office (CBO) examined the role of AI and machine learning in healthcare, noting that the evidence of its effectiveness remains mixed. As the landscape of healthcare technology evolves, further empirical research will be vital in understanding the overall impact of AI on health spending and patient care.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bluecopa Raises $7.5 Million to Transform Financial Processes with AI

January 13, 2026

The UK financial industry is increasingly focusing on skills in AI, data, and compliance for recruitment.

January 12, 2026

Broadridge Acquires Stake in DeepSee, a Utah-Based AI Startup Focusing on Automated Agents for Financial Services.

January 8, 2026
Leave A Reply Cancel Reply

Latest news

Bluecopa Raises $7.5 Million to Transform Financial Processes with AI

January 13, 2026

C3 AI Explores Sale Following CEO Exits and Other Speculations

January 12, 2026

The UK financial industry is increasingly focusing on skills in AI, data, and compliance for recruitment.

January 12, 2026
News
  • AI in Finance (1,987)
  • Breaking News (185)
  • Corporate Acquisitions (76)
  • Industry Trends (229)
  • Jobs Market News (327)
  • Market Insights (228)
  • Market Rumors (295)
  • Regulatory Updates (191)
  • Startup News (1,277)
  • Technology Innovations (200)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,987)
  • Breaking News (185)
  • Corporate Acquisitions (76)
  • Industry Trends (229)
  • Jobs Market News (327)
  • Market Insights (228)
  • Market Rumors (295)
  • Regulatory Updates (191)
  • Startup News (1,277)
  • Technology Innovations (200)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2026 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.