Investors and entrepreneurs everywhere are impressed with the potentially transformative promise of artificial intelligence. Unfortunately, AI’s seemingly unlimited promise has also attracted companies and other players who, in order to participate in the current AI wave, overstate their AI capabilities. These kinds of statements have already attracted the attention of plaintiffs’ lawyers and the SEC.
In recent months, the SEC Chair and other government officials have made it clear that they are closely watching for companies that try to catch the AI wave by making exaggerated or false claims about the AI capabilities of their products or services. In the latest example of the crack down on these kinds of
The Utah Project on Antitrust and Consumer Protection is hosting a free conference open to the public on the future of consumer financial services law on October 11, 2024 from 8 am until 4 pm, MT.
The title of the conference is “From AI to Junk Fees to Public Health: The Future of Consumer Financial
The Australian Government has published a Proposals Paper for Introducing mandatory guardrails for AI in high-risk settings. It has also published a Voluntary AI Safety Standard.
It is proposed that in designating an AI system as high-risk due to its use, regard must be given to: a. The risk of adverse impacts to
SEC officials have for months been signaling their concerns about companies overstating their AI credentials, a phenomenon that the officials and others have called “AI washing.” As set out and partially transcribed in a September 5, 2024, TheCorporateCounsel.net post (here), SEC Chair Gary Gensler recently recorded a video in which he reiterated concerns
If it really didn’t matter, all this electioneering drama would be good fun, wouldn’t it? Throw in some sex and a car chase and this would work on Netflix! Regrettably, in the real world, it is less than entirely amiable.
It is probably true that most of us are anxious as the election carries so many notes
Every year after Labor Day, I take a step back to survey the most important current trends and developments in the world of Directors’ and Officers’ liability and insurance. This year’s review is set out below. As the following discussion shows, this is a particularly interesting time in the world of D&O.
In an era where technology advances at breakneck speed, the concept of a “photo” is rapidly evolving. Once, a photograph was a static representation of a moment in time, a slice of reality captured by a lens. Today, however, the boundaries between reality and artificiality are becoming increasingly blurred, especially with the advent of AI-driven
The SEC has already made it clear that it intends to pursue enforcement actions against firms that misrepresent their Artificial Intelligence (AI) capabilities. In the latest example of the SEC’s commitment in that regard, earlier this week the SEC filed an enforcement action against an investment advisory firm, its holding company, and the two firms’
Soon: A world where your best friend is a chatbot, your therapist is an algorithm, and your romantic partner exists only in code. You laugh – it’s very possible. As AI becomes more sophisticated, it’s not just enhancing our lives—it’s entwining itself into our most intimate relationships, creating an addictive pull that’s hard to resist.