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Misleading Statements Machine Learning Artificial Intelligence

Foley & Lardner LLP

Don’t Buy The Buzzwords: “AI Washing” Gets Its Reckoning

Foley & Lardner LLP on

Since the release of ChatGPT 3.5 in November 2022, public interest in artificial intelligence (AI) has surged in a classic example of a hype cycle. As with past technological breakthroughs, companies may be tempted to...more

Carlton Fields

Cinch Up! AI Enforcement Starts With Washing Charges

Carlton Fields on

In March 2024, the SEC announced that it settled two cases against investment advisers Delphia (USA) Inc. and Global Predictions Inc. for making false and misleading statements about their purported use of artificial...more

Mayer Brown Free Writings + Perspectives

The 3 E’s for Proactive Compliance Against AI-Washing

On April 15, 2024, Securities and Exchange Commission Division of Enforcement Director Gurbir Grewal delivered remarks during a Program on Corporate Compliance and Enforcement Spring Conference 2024.  He addressed artificial...more

Seward & Kissel LLP

SEC Settles Charges with Advisers for Marketing Rule Violations Related to AI Washing

Seward & Kissel LLP on

Who may be interested: Investment Advisers - Quick Take: The SEC recently settled charges with two investment advisers, through separate orders, relating to each adviser’s alleged violations of Rule 206(4)-1 under the...more

Bilzin Sumberg

SEC Issues First AI-Related Civil Penalties and Warns Against “AI Washing”

Bilzin Sumberg on

​​​​​​​The Securities and Exchange Commission on Monday, March 18, 2024, entered into settlements with Delphia (USA) and Global Predictions, which agreed to pay civil penalties totaling $225,000 and $175,000, for “AI...more

Ankura

Guiding AI With a Human Touch: How AI’s Limitations Make Us More Valuable, Not Less

Ankura on

Like much of the world, I have watched with fascination as new Artificial Intelligence (AI) technologies rolled out over the last year. Each new release is better than the last, with seemingly endless applications to improve...more

ArentFox Schiff

Top 10 Legal Issues for 2024 For the Consumer Products Industry

ArentFox Schiff on

On August 16, 2022, US Congress enacted Reese’s Law, which aims to protect children from ingestion hazards associated with certain lithium batteries found in consumer electronics. The law stems from the death of 18-month-old...more

ArentFox Schiff

Leaked FTC Civil Investigative Demand to OpenAI Provides a Rare Preliminary View of the Future of AI Enforcement

ArentFox Schiff on

On July 13, 2023, The Washington Post broke the news that the Federal Trade Commission (FTC) had issued a Civil Investigative Demand (CID) — a sort of a pre-litigation subpoena as part of what is supposed to be a nonpublic...more

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