In a landmark moment for global AI governance, the United States, European Union and United Kingdom have signed the Council of Europe’s framework convention on artificial intelligence and human rights, democracy, and the rule of…
more
/ International Law & Trade, Privacy, Science, Computers, & Technology
On July 25, 2024, the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a joint statement describing potential risks…
more
/ Finance & Banking, Consumer Protection
As part of NIST’s recent mandate to formalize AI Testing set forth in President Joe Biden’s Executive Order on AI, NIST recently released a testbed called Dioptra that can be utilized to conduct evaluations to assess AI…
more
/ Commercial Law & Contracts, Science, Computers, & Technology
In light of the increasing organizational use of and reliance on software and the concerns raised regarding the malicious use of the same, the UK Government has published a response to its call for views on software resilience…
more
/ Business Organizations, Commercial Law & Contracts, Privacy, Science, Computers, & Technology
More than two decades in, cloud computing is no longer a technology that requires a herald or proselytizer. What began with government agencies and then financial institutions seeking expanded storage solutions and an…
more
/ Business Organizations, Science, Computers, & Technology
Reliability, security, and legal compliance. These are assurances that customers purchasing technology products expect from their providers, and which are often required as part of the contracts for such products. AI Providers,…
more
/ Commercial Law & Contracts, Intellectual Property, Science, Computers, & Technology
On March 12, 2024, Acting Comptroller of the Currency Michael Hsu indicated in a speech that regulations may soon be forthcoming that would be designed to bolster larger depository institutions’ ability to withstand disruptions…
more
/ Finance & Banking
Since the release of OpenAI’s ChatGPT, the intense hype around large language models (LLMs) and complex AI systems has exploded. Organizations have rushed to both try and buy these new tools. Along with it, a flood of commentary…
more
/ Commercial Law & Contracts, Science, Computers, & Technology
A decision of the High Court of the United Kingdom earlier this year is an important reminder that the limitation of liability clause remains a crucial piece of any high value or complex contractual arrangement. The importance…
more
/ Commercial Law & Contracts
The UK and U.S. Governments have now formalized the UK-U.S. Data Bridge. The U.S. Attorney General designated the UK as a “qualifying state” for the purposes of the Executive Order 14086 on September 18, 2023, and the UK…
more
/ International Law & Trade, Privacy
Innovation has historically been driven by companies in regulated industries—e.g., financial services and health care—and some of the most intriguing use cases for generative AI systems will likely transform these industries…
more
/ Science, Computers, & Technology
AI systems seem like an exciting, effective new tool. But, as we have seen with Google’s recent struggles with accuracy, and Microsoft’s trouble with sentient, unhinged chat bots, not all of the kinks have been worked out with…
more
/ Science, Computers, & Technology
Though the use of artificial intelligence has grown steadily during the past decade, the recent release of OpenAI’s generative AI system, ChatGPT, has led to a precipitous increase in attention and publicity accompanying the…
more
/ Science, Computers, & Technology
In our previous post, we provided an introduction to the budding new technology of generative AI, or AI systems. As with the implementation of any new technology, widespread understanding of the risks generally lags behind the…
more
/ Science, Computers, & Technology
The Consumer Financial Protection Bureau (CFPB), the primary federal regulator charged with enforcing consumer financial protection laws, recently announced a proposed rulemaking that would require the myriad non-banks subject…
more
/ Finance & Banking
