On May 17, 2024, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with an Arkansas bank and nine of its employees, resolving allegations that the bank and the employees violated Section 5 of the Federal Trade Commission Act (FTC Act), Section 8 of the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA),
Guest Post: Navigating Key Insights from the 2024 CLM Study
In the following guest post, Brent Stevens analyzes and summarizes the findings from the 2024 Claims Litigation Management Defense Counsel Study. Brent is a Senior Director at Consilio and leads Consilio’s Insurance Vertical, serving Consilio’s Insurance Industry clients, including carriers, brokers, and their law firms. I would like to thank Brent for allowing
OpenAI’s New GPT-4o Allows Voice and Video in the Same Model
What’s New?
OpenAI just debuted GPT-4o, a new kind of “Omnimodel” or multimodal AI model that you can simply communicate with in real time in a live voice conversation. There is also the ability to use video streams from your phone or computer and text. Impressively, the model will be free for all users through
Tech Snippets Today – Author and Futurist, Bernard Marr with Joseph Raczynski
The AI Act was signed into law in the EU recently. In addition, the UK and US signed a landmark deal to work together on testing advanced artificial intelligence—both countries will now work together on developing ‘robust” methods for evaluating the safety of AI tools and the systems that underpin them. We will go deeper
Colorado Legislature Passes U.S.’s First State AI Regulatory Bill
As I have noted on this site in discussing artificial intelligence, among the risks and opportunities that the recent rapid emergence of AI represents for organizations of all kinds are the risks associated with AI-related regulatory oversight and supervision. Until now, references to AI-related regulatory concerns have mostly pertained to the EU’s Artificial Intelligence Act
CFPB and European Commission Release Report Regarding “Critical” Priority Areas for Consumer Financial Protection Issues
In April 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) and the Commissioner for Justice and Consumer Protection of the European Commission (European Commission) announced that three meetings had been convened with senior staff and subject matter experts to discuss “shared priority areas” of concern for consumer financial protection issues. The CFPB and the
Exploring AI’s Impact on Humanity: Practical Applications for Board Members
May 21, 202416:00 – 19:00 BSTRegister here.
Join the Nasdaq Center for Board Excellence and connect with fellow board members and CEOs for a discussion about the transformative role of artificial intelligence, ethics, governance, and strategies for a competitive advantage. Together with Mayer Brown, we look forward to welcoming you and sharing enriching conversations to
FCA Market Watch 79
On 9 May 2024, the Financial Conduct Authority (FCA) published Market Watch 79.
In this edition of Market Watch the FCA discusses:
- Failures of market abuse surveillance caused by issues with factors such as data and automated alert logic.
- The FCA’s recent peer review of firms’ testing of front-running surveillance models.
Market abuse
JAMS issues rules governing disputes involving artificial intelligence systems
Judges are beginning to address the increasing use of AI tools in court filings—including reacting to instances of abuses by lawyers using it for generative purposes and requiring disclosures regarding the scope of AI use in the drafting of legal submissions. Now JAMS, the largest private provider of alternative dispute resolution services worldwide, has issued
The Future of Geopolitics and the Role of Innovation and Technology
Washington, D.C., Walter E. Washington Convention Center – In the whirlwind world of technology and geopolitics, the recent panel discussion on “The Future of Geopolitics and the Role of Innovation and Technology” offered a fascinating blend of perspectives from esteemed experts, including Alex Karp, Cofounder and CEO, Palantir; David S. Cohen, Deputy Director Central Intelligence