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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
BACKGROUND - On October 16, 2024, the New York State Department of Financial Services (DFS) issued an industry letter, Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks,...more
On October 16, 2024, the New York Department of Financial Services (“NYDFS”) issued guidance and strategies (“Guidance”) concerning cybersecurity risks that arise in response to the advancements in artificial intelligence...more