What’s Next for Fintech in AI Regulation

1 minute read | June.07.2023

What can financial institutions expect when it comes to AI enforcement? How can they minimize the risk of violating anti-discrimination laws when developing and using AI and automation-based tools and technology? Partners Caroline Stapleton and Amanda Lawrence offer a roadmap in a Corporate Counsel article that:

  • Addresses the likely regulatory fallout for fintechs undergoing AI-driven change.
  • Provides short-term and long-term guidance to reduce risk.
  • Responds to a joint statement from regulators that more oversight is on the horizon.

“Companies that take proactive steps to control for the risk of bias in their use of automation, including AI, will be in the best position to not only defend against an enforcement action, but also to protect their customers against unintended discriminatory outcomes,” they write.