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Akerman LLP - Health Law Rx

NYDFS Highlights Strategies to Combat AI Cybersecurity Risks

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The increased use of artificial intelligence (AI) in the banking, insurance, and financial services industries has led the New York State Department of Financial Services (NYDFS or Department) to publish an Industry Letter on...more

Baker Botts L.L.P.

New York State Department of Financial Services Issues Guidance Concerning Cybersecurity Risks Posed by Artificial Intelligence

Baker Botts L.L.P. on

Last month, the New York State Department of Financial Services (“DFS”), which has broad regulatory powers over financial services-related entities and insurance companies operating in New York State, published guidance...more

Paul Hastings LLP

NYDFS Issues AI Industry Letter

Paul Hastings LLP on

On October 16, 2024, the New York Department of Financial Services (NYDFS) issued an industry letter entitled “Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks” in response to...more

Husch Blackwell LLP

NYDFS Issues Guidance to Mitigate AI Cybersecurity Risks

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Keypoint: The New York Department of Financial Services (NYDFS) circulated an industry letter offering guidance to NYDFS “Covered Entities” for assessing and managing AI-related cybersecurity risks, including threats...more

Troutman Pepper Locke

New York Department of Financial Services Issues New Guidance on Cybersecurity Risks Arising from Artificial Intelligence

Troutman Pepper Locke on

On October 16, the New York State Department of Financial Services (NY DFS) issued an industry letter to entities regulated by NY DFS (covered entities) providing guidance addressing the cybersecurity risks associated with...more

Baker Donelson

New York DFS Releases AI Cybersecurity Guidance

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The New York Department of Financial Services (NYDFS) issued new guidance (the Guidance) on October 16, 2024, to help state-regulated financial institutions mitigate the myriads of cybersecurity risks posed by artificial...more

Orrick, Herrington & Sutcliffe LLP

NYDFS issues cybersecurity guidance for AI

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On October 16, NYDFS Superintendent Adrienne A. Harris issued an industry letter to assist regulated entities in meeting their existing obligations regarding cybersecurity risks arising from AI. The letter, directed at...more

Ankura

Accelerate Your Records Management, Artificial Intelligence, and Microsoft Purview Initiatives With Unstructured Data Cleanup

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Unstructured Data Is Everywhere in Your Organization — And Just Waiting To Cause Trouble - Unstructured Data Cleanup is an information governance practice focused on the permanent deletion of information that is no longer...more

Epstein Becker & Green

Insurers in the Crosshairs: New York Targets Consumer Data and AI-Infused Insurance Underwriting and Pricing

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As the implementation and integration of artificial intelligence and machine learning tools (AI) continue to affect nearly every industry, concerns over AI’s potentially discriminatory effects in the use of these tools...more

Mayer Brown

New York State Department of Financial Services Issues Proposed Artificial Intelligence Circular Letter

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On January 17, 2024, the New York State Department of Financial Services (“NYSDFS”) released a proposed circular letter addressing the use of external consumer data and information sources (“ECDIS”) and artificial...more

Kramer Levin Naftalis & Frankel LLP

NY Regulatory Guidance on AI Illustrates Compliance Challenges

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The New York Department of Financial Services’ (DFS) January 2019 insurance circular letter, which advised New York-licensed life insurance carriers on the use of external consumer data and information sources in...more

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