Artificial intelligence (AI)—sometimes referred to as “machine learning”—has begun to transform how financial services are provided. This trend will continue, with exponential growth of AI.
For financial institutions, AI produces some of the most complex questions facing their legal counsel, who will need to rethink fundamental legal principles and regulatory mores.
Mayer Brown partner's David Beam, Rebecca Eisner and Alex Lakatos discussed in a teleconference some of the pressing topics for the industry:
The rapid growth of AI, the different types of AI and why these differences matter to lawyers and compliance managers
Questions to ask when the business team you support has an AI proposal
Fair lending, UDAAP, AML and other regulatory challenges presented by AI
The black box problem and XAI (Explainable AI)—how the industry will approach the challenge of explaining to regulators and other stakeholders what your computers are doing
For more information on downloading the teleconference - click here.