AI risk News

FTC’s Holyoak Concerned AI Collecting Children’s Data

U.S. Federal Trade Commissioner Melissa Holyoak said on Thursday the agency should look into how artificial-intelligence products use the data they gather from younger users, amid privacy and safety concerns. Holyoak, one of two Republicans on the commission who could …

Viewpoint: Are You Covered for AI Risks?

You can’t go anywhere without hearing about the impact of generative artificial intelligence on … well, everything. The insurance industry is not immune from these impacts; it has been affected by AI in countless ways – from the use of …

SEC to Increase Scrutiny of AI Tools Used by Financial Brokers, Advisers

The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging technologies. Investment advisers, brokers, clearing agencies and others can expect …

Murdoch Firms Dow Jones and New York Post Sue Perplexity AI

Media baron Rupert Murdoch’s Dow Jones and New York Post filed a lawsuit against Perplexity AI on Monday, claiming the AI startup engages in a “massive amount of illegal copying” of their copyrighted work. Perplexity’s search tools enable users to …

90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs

Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to comply with regulations or to monitor AI results. More than …

The Chief Artificial Intelligence Officer: Leading AI Innovation and Risk Management

Generative artificial intelligence (AI) has emerged as a new technology with the potential to completely reshape business practices and create new avenues for innovation. It will significantly impact virtually every industry sector. Organizations have rushed to embrace it, as evidenced …

FTC Crackdown on Companies Using AI Includes ‘Robot Lawyer,’ Content Generator

As its authority is routinely questioned, the Federal Trade Commission has filed complaints against five companies it said use artificial intelligence (AI) to “supercharge deceptive or unfair conduct.” “Using AI tools to trick, mislead, or defraud people is illegal,” said …

Commerce Department Looks to Require Reporting for AI, Cloud Providers

The U.S. Commerce Department said Monday it is proposing to require detailed reporting requirements for advanced artificial intelligence developers and cloud computing providers to ensure the technologies are safe and can withstand cyberattacks. The proposal from the department’s Bureau of …

Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond

It is interesting—and telling—that one of the concerns around generative artificial intelligence has to this point largely revolved around copyright infringement. The most high-profile lawsuits around GenAI have so far centered on the idea that this technology will absorb the …

Growing Reliance on Big Tech for AI Carries New Risks, Banks Say

The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI) in financial services – widely used already for detecting fraud …