8b. ALL – Regulatory Implications for Artificial Intelligence (Intermediate - OPEN)

Regulators are closely monitoring the growing use, complexity, and impact of Artificial Intelligence (AI) at our firms and responding with scrutiny, a level of concern if not skepticism, and a raft of new rules. Among the issues addressed by these regulations are transparency, data privacy and security, fairness, ethics, intellectual property, conflicts of interest, and firm oversight of AI tools and the data generated by them, whether internally developed or from external sources. This session will summarize the regulations that apply to the use of AI in financial services and offer strategies and best practices for promoting the compliant uses of AI.

This session is open to regulators but closed to members of the press.

Learning Objectives:

Scrutinize the actions and expectations of federal and state regulators, including the SEC’s proposed rules to “eliminate or neutralize” conflicts of interest in the use of predictive data analytics.
Focus on the requirements for diligence and oversight of third parties.
Consider the possible application of existing regulations to AI in such areas as data privacy and security, books and records, and sales practices.
Provide guidance on how to address the most pressing compliance issues and risks generated by these rules including through engagement with key stakeholders; appropriate governance and oversight; the right policies, procedures, tools, and resources; and effective monitoring, auditing, and testing.

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