All Artificial Intelligence articles – Page 5
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Google Cloud touts impact of new AML AI product
Google Cloud launched a new anti-money laundering product for financial institutions that utilizes artificial intelligence and machine learning to replace manually defined rules used to spot suspicious transactions.
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OCC’s Hsu: FIs wise to include risk, compliance in tech product development
As financial institutions mull potential growth opportunities with digital asset and artificial intelligence tools, Acting Comptroller of the Currency Michael Hsu warned against leaving risk and compliance teams out of the loop.
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Webcast
CPE Webcast: Corporate compliance: Is artificial intelligence the magic bullet?
This webcast will discuss the technological, legal, and ethical issues that surround artificial intelligence and whether AI will become a solution that can effectively address compliance issues.
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News Brief
CFPB: ‘Poorly deployed’ AI chatbots harming banking customer service
The Consumer Financial Protection Bureau flagged risks regarding expanded use of chatbots by financial institutions, specifically for customer service purposes.
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Responsible use cases exist for generative AI in compliance—if you plan carefully
The possibilities for productive use of generative AI are alluring, compliance professionals say. But harnessing the technology in an ethical and compliant manner requires thorough risk assessment.
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Five years of GDPR: Experts forecast changes to come for landmark privacy law
The fifth anniversary of the European Union’s General Data Protection Regulation coming into force has highlighted the many successes of the legislation but also exposed areas where the law is still untested and unclear.
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Article
Expert: It’s time to embrace artificial intelligence
The rapid rate at which technology is developing is staggering, particularly in relation to artificial intelligence. Can we, as compliance practitioners, keep up?
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Opinion
Highlights from Compliance Week 2023
Significant changes in policy and technology, in addition to fresh perspectives on tried-and-true compliance topics, highlighted the discussion at Compliance Week’s 2023 National Conference.
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News Brief
OpenAI CEO to Senate: AI could harm world without regs
It is a good idea to regulate artificial intelligence programs like ChatGPT, the chief executive officer of the popular chatbot’s developer told lawmakers.
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News Brief
FTC attorney says agency concerned with generative AI use
The Federal Trade Commission is closely tracking company use of artificial intelligence tools for possible rule violations involving deception, discrimination, excessive manipulation, or unfairness.
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News Brief
U.S. authorities reiterate enforcement focus on AI discrimination
Officials at four U.S. agencies warned they are prepared to act against bias or discrimination that involves artificial intelligence.
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News Brief
EU lawmakers float changes to AI Act to account for ChatGPT
The European Union’s draft law to regulate artificial intelligence must be updated to include overarching controls on chatbots like ChatGPT, a group of European Parliament members wrote in an open letter.
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News Brief
EDPB task force latest scrutinizing ChatGPT, AI accountability
The European Data Protection Board is the latest regulatory body assessing the applicability of ChatGPT amid skyrocketing data privacy concerns regarding the popular artificial intelligence platform.
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How to avoid pitfalls of scaling business with generative AI
Generative AI has the potential to be as game-changing for business and society as the internet, social media, and mobile phones were. At the moment, however, the risks seem to outweigh the rewards.
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News Brief
ChatGPT exits Italy after GDPR violation warning
The Italian data protection authority shut down ChatGPT in the country, alleging the AI chatbot violates European Union privacy laws and has no controls to stop it interacting inappropriately with young children.
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Survey: Tech key to compliance in changing data privacy landscape
Respondents to a survey from Compliance Week and Exterro largely said they were confident their organizations are meeting regulatory requirements regarding data privacy despite evidence their data retention policies and procedures are outdated.
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News Brief
FTC attorney warns of scrutiny toward AI claims in marketing
The Federal Trade Commission is keeping close watch on companies that use the term “artificial intelligence” when marketing their products.
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ChatGPT comes with compliance caveats, experts warn
There are downsides to every new technology, and artificial intelligence and machine learning are no exception. Experts discussed the importance for compliance professionals to understand the risks of such tools at CW’s virtual Cyber Risk & Data Privacy Summit.
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Resource
e-Book: Regulator expectations for AI use
The need to keep pace with technology is paramount for compliance departments. Regulators have high expectations that risks are being properly managed during new tech implementation.
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Premium
GDPR push for privacy by design still ‘a long way off’
Italy’s data protection authority banned U.S.-based AI chatbot creator Replika from processing the personal data of Italian users because of risks the service posed to minors and vulnerable people—the latest example of a tech company’s product running afoul of the GDPR.