Part 1 on the Future of AI Regulation — The RFI on AI from U.S. Banking Regulators

21 April 2021
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Key takeaways:
  • Several recent developments provide new insight into the future of artificial intelligence (“AI”) regulation.
  • This is the first post in a series on what these recent AI developments mean for the future of AI regulation.
  • In this first post, we discuss the recently published request for information (“RFI”) from U.S. banking regulators seeking comments on the use of AI by financial institutions.
  • In future posts in this series, we will discuss the FTC’s recently issued document “Aiming for truth, fairness, and equity in your company’s use of AI,” and the European Commission’s much anticipated draft regulation on AI, which is widely viewed as the first step in establishing a GDPR-like comprehensive EU law on automated decision-making.
  • In this series, we examine what these and other developments mean for the future of AI regulation, and what companies can do now to prepare for the coming AI regulatory landscape.