Better Safe Than Sorry: OMB Releases Memorandum on Managing AI Risksin the Federal ...
On March 28, 2024, the Office of Management and Budget (“OMB”) issued Memorandum M-24-10, Advancing Governance, Innovation, and Risk Management …
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The EUAIAct: The Implications of the EU'sArtificial Intelligence Regulations for Construction
The use ofartificial intelligence(AI) within the construction industry is rapidly expanding, driven by its potential to provide…
Considering current legalrisksfrom the use of AI in the life sciences sector - Lexology
The use ofartificial intelligence(AI) in the life sciences sector is increasing, and its applications may be transformative …
EUAIAct unpacked: Which types of AI are regulated under theAIAct? - Lexology
What is the difference between a high-risk AI system, certain AI systems with transparencyrisks, general-purpose AI models and general-purpose …
Insuring the unpredictable: The challenges of AI riskinsurability - Lexology
AI is rapidly permeating various economic sectors. From financial services and insurance to life sciences and encompassing industries as diverse …
Growing regulatory scrutiny:AI washing allegations on the rise - Lexology
As public interest and understanding of AI grows, so does theriskof high scrutiny, public investigations and even criminal liability for AI washing …
The EUArtificial Intelligence Act - Lexology
The higher therisk, the more stringent the obligations. TheAIAct even ended up banning the use of certain AI systems due to the unacceptablerisk …
Artificial Intelligence- Updates for the Public Sector - Lexology
The use of AI in the public sector brings with itrisks, particularly in respect of cyber security and equality law. The UK Government is already …
The latest on global AI development - Lexology
... AI development, AI capabilities and AI risks. Who's building what? Prior to 2014, most machine learning models were built in academia. Since then …
“Anand & Anand's participation SILFAIConference - Day 1” - Lexology
"Without robust mechanism in place, there could be instances of AI hallucination ," he said, referring to fake information and misuse of Generative AI …
SEC Director of Enforcement Warns of a 'Perfect Storm' Developing AroundAI- Lexology
Director of Enforcement of the U.S. Securities and Exchange Commission (SEC or Commission) Gurbir Grewal warns of theriskssurrounding …
Navigating the Legal Landscape ofAI| Bennett Jones - Lexology
Bennett Jones welcomed the opportunity to present a practical, opportunity andriskfocused approach to the governance of Artificial Intelligence…
Artificial Intelligence-Related Securities Exposures Underscore the Importance of Thorough ...
As we explained in our introductory post, rapid advancements inartificial intelligence(AI) present multifacetedrisksfor businesses of all …
The 3 E's for Proactive Compliance AgainstAI-Washing - Lexology
Education. Staying informed about emerging and heightened AI risksto one's business and industry by reading AI-related enforcement actions and …
Navigating AI Risks: A Guide to Enhancing Corporate Compliance Programs - Lexology
In today's rapidly evolving technological landscape, the integration ofartificial intelligence(“AI”) into business operations presents …
AIChatbots,Hallucinations, and Legal Risks - Lexology
Artificial intelligence(AI), particularly in the form of large language models (LLMs), has become a go-to resource for online customer service, …
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U.S. OMB policy for AI use and procurement emphasizes governance, transparency ... - Lexology
In addition, theAIMemo requires agencies to follow minimumriskmanagement practices when using safety-impacting AI and rights-impacting AI and …
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AIChatbots, Hallucinations, and Legal Risks- Lexology
Artificial intelligence(AI), particularly in the form of large language models (LLMs), has become a go-to resource for online customer service, …
Chatbots & LLMsHallucinations & FabricationLegal & CourtsRetail & E-commerce
Australian Senate to establish Select Committee onAI- submissions close 10 May 2024
Lexologyconcerns that Australia's current regulatory framework does not sufficiently addressriskspresented by AI, particularly the high-riskapplications of …
Compliance Isn't the Only 'AIWashing'Risk- Lexology
Companies are rapidly adoptingartificial intelligencetechnologies, and both regulators and private plaintiffs have set their sights on “AI …
OMB Issues Guidance to Federal Agencies on the Use of Artificial Intelligence—AI
The OMB's memorandum directs agencies to “advance AI governance and innovation while managing risks ... The AI risksthis memo addresses are …
AI and Energy: Network Innovation and Growth - Lexology
AI can mitigate IT/OT interoperabilityrisksand increase efficiency by targeting vulnerabilities, reducing waste, and improving business …
Insights: Alert OMB Releases Policy to Advance Governance, Innovation, and Risk...
In today's rapidly evolving technological landscape,artificial intelligence(“AI”), and particularly generative AI, continues to develop as a…
Regulation & PolicyGovernance & Risk ManagementChatbots & LLMs
Key Takeaways from SEC Speaks 2024 Event - Lexology
Lack of updates for patching. Risk areas of note. Artificial Intelligence (AI): Ms. Horton explain AI risksneed to be mitigated by controls …
Data privacy inartificial intelligence: decoding Singapore's AI governance framework
Lexology...AI systems, and they should conduct regularriskassessments.A.I.Verify. In May 2022, Singapore's Infocomm Media Development Authority (IMDA) and …
NavigatingAIGovernance - Lexology
As a result, generative AI models may produce factually incorrect output (hallucination), generate biased content, lack domain-specific expertise …
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NavigatingAIGovernance - Lexology
AI riskmanagement aims to mitigate and contain AI-related risks based on the individual AI riskmap. The toolset is diverse and includes, in …
Treasury Department Warns Financial Institutions to Prepare forAI-Age Fraud - Lexology
Pursuant to President Biden's October 2023AIExecutive Order, the US Department of Treasury (Treasury) released a report on cybersecurityrisks …
A spotlight on Australia's privacy reform - What Lies Ahead for AI and Automated Decision-Making?
Anotherriskis AI hallucinations, which can be defined as misleading and erroneous outputs arising from faulty algorithms or dataset that is out-of- …
Privacy & SurveillanceAI Agents & AutomationHallucinations & Fabrication
California issues procurement guidelines for state entities that are acquiring generative AI
These resources are aimed at aiding state entities in evaluating theriskassociated with Gen AI systems. For the private sector, the guidelines …