When evaluating AI risks, legal, ethics and compliance professionals need to divide the question into two — first, what are risks from legal, ethics and compliance internal use of AI? and second, what are business risks from employing AI capabilities in specific functions and use cases? Sometimes ethics and compliance professionals are surprised to learn that certain functions — finance, security, HR or others —...
The new compliance cottage industry surrounds artificial intelligence. We are at such an early stage of AI development — companies are still figuring out how they can employ the technology. Some industries, such as financial institutions, however, have been using AI for fraud detection and other issues. I expect financial institutions will set the tone for much of compliance practices around AI. There is no...
We are at an important inflection point — AI technologies are rapidly developing; we are witnessing a historic metamorphosis in the technology, the impact on businesses and society and important steps being taken to regulate AI and develop appropriate risk management strategies. We have experienced important inflection points throughout our history — however, AI technology is evolving at such a rapid pace, it is difficult...
