Okta Invests in AI as CEO Warns It’s ‘Too Soon’ for Regulation

Authentication software company Okta Inc. plans to devote about $40 million of its annual research and development budget to new artificial intelligence projects, Chief Executive Officer Todd McKinnon said.

The investment represents about 10% of the total R&D budget for the 14-year-old software maker, known for providing user identification services. One of its first projects is a bot that guides customers on how to use the firm’s products, McKinnon told Bloomberg News on Thursday.

McKinnon said that AI is “worthy of the hype” and that “regulation is coming too soon.” His comments come as other tech leaders, including Tesla Inc. ...