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Third-Party Service Provider Artificial Intelligence

WilmerHale

The SEC Division of Examinations' Fiscal Year 2025 Priorities

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On October 21, 2024, the Securities and Exchange Commission Division of Examinations published its examination priorities for fiscal year 2025.1 In this alert, we offer ten observations for broker-dealers. Our observations...more

Goodwin

NYDFS Publishes Guidance on AI-Related Cybersecurity Risks

Goodwin on

On October 16, 2024, the New York State Department of Financial Services (NYDFS or the “Department”) published an industry letter (the “Guidance”) regarding the increased reliance on artificial intelligence (AI) and the...more

Mayer Brown

New York State Department of Financial Services Issues Industry Letter on Cybersecurity Risks Arising from Artificial Intelligence

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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

Cozen O'Connor

NYDFS Issues Guidance on Cybersecurity Risks Arising from Artificial Intelligence

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On October 16, 2024, the New York Department of Financial Services (NYDFS) issued an Industry Letter that discusses the cybersecurity risks associated with the use of artificial intelligence (AI) and outlines strategies to...more

ArentFox Schiff

DFS Issues Circular Letter Addressing Cybersecurity Risks Related to AI

ArentFox Schiff on

On October 16, the New York Department of Financial Services (DFS) issued a circular letter addressing cybersecurity risks related to the increasing use of artificial intelligence (AI) in relation to insurers, insurance...more

Harris Beach PLLC

NY Department of Financial Services Issues AI Cybersecurity Guidance

Harris Beach PLLC on

The New York Department of Financial Services (DFS) has issued guidance, in the form of an industry letter, on addressing cybersecurity risks arising from artificial intelligence (AI) under its cybersecurity regulation, 23...more

WilmerHale

Navigating Generative AI Under the European Union’s Artificial Intelligence Act

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This blog post focuses on how the EU’s Artificial Intelligence Act (“AI Act”) regulates generative AI, which the AI Act refers to as General-Purpose AI (“GPAI”) Models....more

WilmerHale

Obligations for Deployers, Providers, Importers and Distributors of High-Risk AI Systems in the European Union’s Artificial...

WilmerHale on

In this blog post, we will focus on obligations that the European Union’s Artificial Intelligence Act (AI Act) sets for deployers, providers, importers and distributors regarding high-risk AI systems....more

Goodwin

EU AI Act: Key Points for Financial Services Businesses

Goodwin on

The European Union (EU) Artificial Intelligence Act (AI Act), Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on artificial intelligence and amending...more

DirectEmployers Association

DE Under 3: Court Held That Workday Was an “Agent” to Employers Licensing its AI Applicant Screening Tools

Interesting story for employers whose ATS uses AI for hiring activities! Listen in as Candee and John discuss the Mobley v. Workday case in which a District Court recently ruled that Workday acts as agent of the employer,...more

Integreon

Unleashing the Power of GenAI in Contracts Management: 3 Easy Ways to Start and Benefit

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Corporate interest in AI, particularly generative AI (genAI), has surged dramatically. For many legal teams, there is pressure all the way from the C-suite to start using this new technology. However, the process of...more

Pillsbury - Global Sourcing Practice

Old Tricks for the New Dog: Why Traditional Technology Sourcing Best Practice Is Relevant for Cutting-Edge AI

Since the release of OpenAI’s ChatGPT, the intense hype around large language models (LLMs) and complex AI systems has exploded. Organizations have rushed to both try and buy these new tools. Along with it, a flood of...more

Venable LLP

Considerations for Handling AI Licensing and Related Data in Tech Contracts: A Customer’s Perspective

Venable LLP on

Artificial intelligence (AI) tools continue to proliferate, with many aiming to automate processes and increase productivity. But customers of these tools or customers of vendors who use them must understand what’s going on...more

Ankura

Solving for the EU’s Artificial Intelligence Act: Obligations of AI Users

Ankura on

In December 2023, European Union (EU) lawmakers reached an agreement on the EU AI Act. Our article titled “An Introduction to the EU AI Act” focused on applicability, thresholds, timing, and penalties related to the EU AI...more

Integreon

Law360 Pulse: A Model for Optimal Legal Tech Investment Strategy

Integreon on

This article originally appeared on Law360 Pulse on February 21, 2024. In a 2023 survey, litigation support company U.S. Legal Support asked lawyers and legal professionals what legal tech trends emerged during the year and...more

Rothwell, Figg, Ernst & Manbeck, P.C.

The Pros And Cons Of Protecting AI As Trade Secrets

Trade secrets have become a de facto intellectual property right for securing valuable artificial intelligence information. Despite regulatory trends toward greater transparency of AI models, federal policy acknowledges,...more

Miller Canfield

Artificial Intelligence in the Workplace: Spotlight on Confidentiality Concerns

Miller Canfield on

Generative artificial intelligence (“GAI”) has the potential to revolutionize efficiency and productivity in our day-to-day working lives. But while this technology is becoming more sophisticated by the day, companies should...more

Barnea Jaffa Lande & Co.

Legal Guide for Implementing AI Tools in Organizations

Examining AI tools: Before deciding to purchase and implement AI tools in an organization, one must consider various aspects, including privacy issues, discrimination, copyright protection, and suppliers and contracts. The...more

WilmerHale

FTC Announces Groundbreaking Action Against Rite Aid for Unfair Use of AI

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On December 19, 2023, the Federal Trade Commission (FTC) announced an enforcement action against  the retail pharmacy Rite Aid for unfair practices associated with its use of a facial recognition technology (FRT) surveillance...more

MoFo Tech

AI Trends For 2024 - Vendor Procurement Practices And Generative AI

MoFo Tech on

Vendor procurement practices will continue to evolve in 2024 to reflect corporate AI risk management and governance policies. While companies are beginning to appreciate that vendor work product may be developed using AI...more

BCLP

Data and Cybersecurity - European Union Legislation and Proposals - December 2023

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The pace of new EU law continues unabated, with IoT, cyber security and digital services being key areas of activity. The BCLP Data Privacy & Security team is tracking EU law developments relevant to data and cyber security....more

Legal Internet Solutions Inc.

How to Budget for Your Law Firm’s Website Project

Fall is here! Along with the new season, I look forward to the leaves changing, sweater weather, and budget season for your law firm! Maybe it’s overwhelming, but it’s also a little exciting to think about what you can...more

Latham & Watkins LLP

China’s New AI Regulations

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China’s regulations aim to address risks related to artificial intelligence and introduce compliance obligations on entities engaged in AI-related business. This Client Alert discusses what technologies and entities are...more

Eversheds Sutherland (US) LLP

NAIC releases highly-anticipated draft model bulletin on artificial intelligence systems used by insurers

On July 17, 2023, the Innovation, Cybersecurity and Technology (H) Committee of the National Association of Insurance Commissioners (NAIC) released for comment a highly anticipated model bulletin (Model Bulletin) on...more

Epiq

Become More Efficient by Utilizing Managed Services to Deploy AI

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True eDiscovery managed services is about a programmatic approach to process and technology. Artificial intelligence (AI) and predictive analytics can be included in a managed services construct. With proper planning and...more

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