The Competition and Markets Authority (CMA), the UK’s competition regulator, announced this month that it plans on publishing an update in March 2024 to its initial report on AI foundation models (published in September 2023). The update will be the result of the CMA launching a “significant programme of engagement”…
The United Kingdom hosted an Artificial Intelligence (AI) Safety Summit on November 1 – 2 at Bletchley Park with the purpose of bringing together those leading the AI charge, including international governments, AI companies, civil society groups and research experts to consider the risks of AI and to discuss AI…
The use of generative AI tools, like ChatGPT, are becoming increasingly popular in the workplace. Generative AI tools include artificial intelligence chatbots powered by “large language models” (LLMs) that learn from (and share) a vast amount of accumulated text and interactions (usually snapshots of the entire internet). These tools are…
Innovation has historically been driven by companies in regulated industries—e.g., financial services and health care—and some of the most intriguing use cases for generative AI systems will likely transform these industries. At the same time, regulatory scrutiny could significantly hamper AI adoption, despite the current absence of explicit regulations against…
AI systems seem like an exciting, effective new tool. But, as we have seen with Google’s recent struggles with accuracy, and Microsoft’s trouble with sentient, unhinged chat bots, not all of the kinks have been worked out with these tools. In our last post, we discussed the legal risks, and…
In our previous post, we provided an introduction to the budding new technology of generative AI, or AI systems. As with the implementation of any new technology, widespread understanding of the risks generally lags behind the speed of the technology itself. When the technology industry began its push “to the…
Though the use of artificial intelligence has grown steadily during the past decade, the recent release of OpenAI’s generative AI system, ChatGPT, has led to a precipitous increase in attention and publicity accompanying the rise of powerful generative AI systems. With these generative AI systems come mounting issues and concerns…
In “Regulators Zero In on AI,” colleagues Brian H. Montgomery, Andrew L. Caplan and Rachel G. Newell examine the increased focus of financial services regulators on how businesses use artificial intelligence (AI) and machine learning (ML) in underwriting and pricing consumer finance products.
When it comes to artificial intelligence, a lack of transparency in process and bad data to begin with are two of the issues most hampering the embrace by the boardroom. In AI: Black boxes and the boardroom, colleagues Tim Wright and Antony Bott examine how the resulting lack of trust…
Famously dramatized by the disembodied voice of HAL in Stanley Kubrick’s 1968 film 2001: A Space Odyssey, artificial intelligence has been the subject of humanity’s existential angst for decades. Although Elon Musk warns that those fears may be justified, one of the biggest pushes for advancing artificial intelligence to-date has…