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Benesch

AI Reporter - May 2025

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The use of AI in banking was a topic in April, as Bank of America revealed it will spend $4 billion on AI initiatives in the coming year. The bank cited AI’s usefulness in reducing IT support calls and the over 90% usage...more

Sheppard Mullin Richter & Hampton LLP

OCC’s Hood Emphasized AI Oversight and Inclusion in Financial Services

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On April 29, Acting Comptroller of the Currency Rodney Hood delivered pre-recorded remarks at the National Fair Housing Alliance’s Responsible AI Symposium.  In his speech, Hood reiterated the OCC’s commitment to deploying AI...more

Alston & Bird

AI Regulation in the U.S.: What’s Coming, and What Companies Need to Do in 2023

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Artificial intelligence (AI) is expanding into more industries (often in surprising ways) and has inevitably caught the attention of federal and state regulators. Our Privacy, Cyber & Data Strategy Team summarizes the...more

Kilpatrick

Machine Learning New Technology Implicates Old Problems

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The financial services industry has seen an explosive growth in Artificial Intelligence (AI) to supplement, and often supplant, existing processes both customer-facing and internal. Given the potential created by rapid...more

Kilpatrick

The Use Of Artificial Intelligence (Ai) In Financial Services: Some Early Lessons For The Practitioner

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In a recent speech delivered at “Fintech and the New Financial Landscape” in Philadelphia, Federal Reserve Board Governor Lael Brainard discussed how technology is changing the financial landscape and the lessons being...more

Holland & Knight LLP

FTC Kicks Off New Consumer Protection Hearings: Focuses on the Use of Big Data and Artificial Intelligence

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The Federal Trade Commission (FTC) continues its comprehensive efforts to focus on consumer protection issues, including those around the use of Big Data, Artificial Intelligence (AI) and predictive analytics. These tools are...more

Polsinelli

Meet HAL, Your New Robo-Adviser: SEC Regulatory Guidance For Robo-Advisers

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“Hello, Dave. You're looking well today.” In the iconic science fiction movie, 2001: A Space Odyssey, the HAL 9000 computer courteously greeted his astronaut human companion Dave Bowman. HAL was a Heuristically...more

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