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5 Key Takeaways | Artificial Intelligence: What Tax Professionals Need to Know
Introduction - Within the United States, new state laws regulating artificial intelligence continue to emerge. Below, we provide a high-level description of certain laws currently in effect or laws that will soon come into...more
AT A GLANCE - On February 20, 2025, the Virginia legislature passed the High-Risk Artificial Intelligence Developer and Deployer Act (Virginia AI Act), a comprehensive artificial intelligence bill focused on preventing...more
Déjà vu all over again: after Colorado and Virginia established competing standards for comprehensive privacy laws in 2021, history appears to be repeating itself in the artificial intelligence (AI) space. Virginia’s...more
The rapid rise of artificial intelligence (“AI”) is reshaping industries, transforming economies, and presenting profound legal and ethical challenges....more
On August 9, 2024, Illinois Governor JB Pritzker signed HB 3773, which amends the Illinois Human Rights Act (IHRA) to restrict an employer’s use of artificial intelligence (“AI”) in employment practices....more
On July 11, 2024, the New York State Department of Financial Services (NYSDFS) adopted a final circular about the "Use of Artificial Intelligence ("AI") Systems and External Consumer Data and Information Sources in Insurance...more
On August 9, 2024, Illinois Governor JB Pritzker signed HB 3773, which amends the Illinois Human Rights Act to address employers’ use of artificial intelligence (AI). Illinois employers that use any automated tools to make...more
On May 17, 2024, Colorado Governor Jared Polis signed, “with reservations,” Senate Bill 42-205, “Concerning Consumer Protections in Interactions with Artificial Intelligence Systems” (the Act). The first of its kind in the...more
On December 9, 2023, representatives from the Council of the European Union, the European Parliament, and the European Commission agreed in principle on the world’s first comprehensive legal regulations for artificial...more
Artificial intelligence (AI) is proving central to many recent commercial transactions, such as asset or business acquisitions or licenses, and this will only increase as interest in AI explodes. Whether such commercial...more
The recent kerfuffle over an AI tool misinterpreting instructions to make a woman look more professional as making her look Caucasian has raised important questions about how to audit AI code to avoid undesirable outcomes. AI...more
What’s in store for artificial intelligence (AI) in California? Will there be an “AI summer” hiatus as the Assembly recommends, or will legislation and regulatory proposals go forging ahead? Regardless of whether California...more
The Federal Trade Commission (FTC) has been active in enforcements involving various AI-related issues. For an example, see Training AI Models – Just Because It’s “Your” Data Doesn’t Mean You Can Use It and You Don’t Need a...more
On April 6, 2023, the New York City Department of Consumer and Workforce Protection (“DCWP”) promulgated its final regulations (the “Final Regulations”) regarding the New York City Automated Employment Decision Tools Law...more
Artificial intelligence (AI) and machine learning applications like ChatGPT are the hot new technologies expected to changes our lives fundamentally. Taking the human element out of monotonous tasks promises to increase...more