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State-level AI regulation remains a dynamic landscape in the US as lawmakers tackle the complex risks posed by modern AI. Two influential 2024 regulations—Colorado's 24-205 (the Consumer Protections for Artificial...more
On December 5, 2024, the U.S. Commodity Futures Trading Commission’s (“CFTC”) Divisions of Clearing and Risk, Data, Market Oversight, and Market Participants (together, the “Divisions”) issued a staff advisory (the...more
BCLP recently hosted a seminar on AI in HR. In this thought-provoking session, we considered how AI is used in HR and its regulation in the EU and the UK, and then engaged in some discussions around two theoretical scenarios....more
Crypto Exchanges and Stablecoin Issuers Announce Multiple New Products - Multiple crypto sector companies have recently announced new products. In a press release, LayerZero, “an omnichain interoperability protocol that...more
The Productivity Paradox: Does more technology mean less growth? Is there scope to use AI in commercial contracts? Will it save time, or ultimately cost more time in review and pose greater risk?...more
On October 24, the Austria, Berlin, Frankfurt, Hamburg, Leipzig, Luxembourg, Munich, Rhine-Ruhr, Stuttgart and Switzerland IAPP (formerly known as the International Association of Privacy Professionals) KnowledgeNet chapters...more
The EU AI Act, which went into force on August 1, 2024, introduces specific rules for artificial intelligence (AI) systems, especially those deemed “high risk.” Medtech devices, products, and services — such as...more
Over the past two years, federal and state government agencies have moved to regulate the deployment of artificial intelligence (AI) in the healthcare setting, including in the utilization management (UM) and prior...more
To help organizations stay on top of the main developments in European digital compliance, Morrison Foerster’s European Digital Regulatory Compliance team reports on some of the main topical digital regulatory and compliance...more
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
Welcome to the Tenth Issue of Currents 2024, our energy e-newsletter. Natural Gas is Not Going Away - While net-zero remains a dream for many, the electricity market is providing a wake-up call for anyone believing...more
On September 24, 2024, Senator Edward J. Markey introduced the Artificial Intelligence (AI) Civil Rights Act to the U.S. Senate (AI Bill). The AI Bill is intended to function as a safeguarding mechanism legislating for the...more
Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...more
With the EU’s AI Act having entered into force on August 1, 2024, companies now need to focus on its implementation. Although the AI Act will not be fully enforceable until August 2, 2027, some obligations will become binding...more
On September 29, California Governor Gavin Newsom vetoed SB 1047, one of the most ambitious efforts yet to establish a comprehensive artificial intelligence (AI) regulatory framework in the United States. But for all of the...more
Artificial intelligence (AI) is becoming ubiquitous across sectors, and the financial services industry is no exception. With the rise of AI, there is also an increase in scrutiny by regulators over its use....more
California’s Safe and Secure Innovation for Frontier Artificial Intelligence Models Act is one of the first significant regulations of artificial intelligence in the United States that, if signed, would place liability on the...more
To help you stay on top of the latest news, our AI practice group has compiled a roundup of the developments we are following....more
The Consumer Financial Protection Bureau (CFPB) has proposed a new rule that could impact lenders using forms of artificial intelligence in their lending practice. The rule affects mortgage originators and secondary market...more
On June 17, 2024, the U.S. Food and Drug Administration’s (FDA) Digital Health Center of Excellence (DHCE), published a blog article highlighting the promise of artificial intelligence (AI) in healthcare. In the article, the...more
Today marks a significant milestone in the regulation of artificial intelligence (AI) as the European Union (EU) AI Act is published in the EU Official Journal. This landmark legislation establishes the world’s first...more
The expansion of artificial intelligence (“AI”) applications in healthcare (“Healthcare AI”) has made recent headlines, from the transformation of clinical diagnostics with increased accuracy, to use of personalized medicine...more
On June 24, the OCC, Federal Reserve Board, FDIC, NCUA, CFPB, and FHFA approved a final rule to implement the quality control standards mandated by the Dodd-Frank Act to address the use of artificial intelligence in...more
What’s in store for the future of AI? That’s the question we set out to answer at a16z’s New York Tech Week....more