Artificial Intelligence: Legal and Regulatory Issues for Financial Institutions

Over the last six months, artificial intelligence (AI) has captured the public imagination in a way it never has before. A new generation of AI-powered language models make use of a deep learning architecture known as a transformer. Through the transformer architecture, AI can generate coherent and contextually relevant text based on input prompts provided by users. Trained on an extensive dataset, such AI predicts the next word in a sequence of text, allowing it to produce human-like written content. Its natural language processing capabilities have allowed it to be applied in various fields, ranging from content generation to translation and summarization.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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