On Monday, May 3, 2021, Anna Gressel and Avi Gesser from our Data Strategy and Security Group, had an interesting discussion with Stephen McDougall, Chief Counsel for Data and Privacy Law at Prudential Financial, on the Future of AI Regulation.

During the webcast, we discussed several recent regulatory developments, including the European Commission’s Draft AI Regulation, the U.S. banking regulators’ Joint Request for Information on AI, and the FTC’s document on “truth, fairness, and equity in your company’s use of AI.”

Our discussion covered:

  • How the EU regulation will apply to U.S. companies
  • Types of AI systems that will be banned under the EU regulation
  • How the EU regulation sets a new regulatory bar for transparency, risk assessments, post-market surveillance, and incident notification to regulators
  • New obligations for transparency, risk assessments, certifications, post-market surveillance, and notification of incidents to regulators
  • Key AI concerns identified by the U.S. banking regulators
  • The FTC’s ability to use Section 5 against AI models on discrimination and other grounds
  • Steps that companies can adopt now to prepare for the rapidly evolving AI regulatory landscape

To view the on-demand recording, please click here.

Our recent blog posts concerning the Future of AI Regulation can be found on the Debevoise Data Blog:

To subscribe to the Data Blog, please click here.

To see our previous AI-related webcasts, click here.

Author

Avi Gesser is Co-Chair of the Debevoise Data Strategy & Security Group. His practice focuses on advising major companies on a wide range of cybersecurity, privacy and artificial intelligence matters. He can be reached at agesser@debevoise.com.

Author

Anna R. Gressel is a senior associate and a member of the firm’s Data Strategy and Security Group and its FinTech and Technology practices. Her practice focuses on representing clients in regulatory investigations, supervisory examinations, and civil litigation related to artificial intelligence (“AI”) and other emerging technologies. Ms. Gressel has a deep knowledge of regulations, supervisory expectations, and industry best practices with respect to AI governance and compliance. She regularly advises boards and senior legal executives on governance, risk, and liability issues relating to AI, privacy, and data governance. She can be reached at argressel@debevoise.com.