Governance – Debevoise Data Blog

Artificial Intelligence

Good AI Vendor Risk Management Is Hard, But Doable

By: Avi Gesser, Matt Kelly, Johanna Skrzypczyk, Tigist Kassahun, Jarrett Lewis and Joshua A. Goland September 26, 2024

As companies slowly ramp up the depth and breadth of their AI adoption, one of the most difficult challenges they face is managing third-party risk. Most companies contemplating AI adoption…

Artificial Intelligence

Defining AI for Internal Policies – A Few Considerations and Tips

By: Avi Gesser, Matt Kelly, Melyssa Eigen and Ned Terrace July 29, 2024

When drafting policies on the use of artificial intelligence, one challenge that many businesses face is how to define AI, and relatedly, when should AI governance and compliance programs apply…

Business

SEC Releases New Guidance on Material Cybersecurity Incident Disclosure

By: Paul Rodel, Benjamin R. Pedersen, Erez Liebermann, Eric T. Juergens, Anna Moody, John Jacob and Kelly Donoghue June 27, 2024

June 27, 2024 On June 24, 2024, the staff of the Division of Corporation Finance of the Securities and Exchange Commission (the “SEC”) released five new Compliance & Disclosure Interpretations…

Artificial Intelligence

The UK’s Use of Competition and Consumer Laws to Regulate AI

By: Avi Gesser, Timothy McIver, Robert Maddox, Martha Hirst and Alfred Scott June 25, 2024

As the European Union edges ever-closer to formally enacting the EU AI Act, attention is turning to how other jurisdictions will approach AI regulation. In the UK, individual regulators will…

Artificial Intelligence

Recently Enacted AI Law in Colorado: Yet Another Reason to Implement an AI Governance Program

By: Avi Gesser, Erez Liebermann, Matt Kelly, Martha Hirst, Andreas Constantine Pavlou, Cameron Sharp and Annabella M. Waszkiewicz June 11, 2024

On May 17, 2024, Colorado passed Senate Bill 24-205 (“the Colorado AI Law” or “the Law”), a broad law regulating so-called high-risk AI systems that becomes effective on February 1,…

Artificial Intelligence

Treasury’s Report on AI (Part 1) – Governance and Risk Management

By: Charu A. Chandrasekhar, Avi Gesser, Erez Liebermann, Matt Kelly, Johanna Skrzypczyk, Michelle Huang, Sharon Shaji and Annabella M. Waszkiewicz April 29, 2024

On March 27, 2024, the U.S. Department of Treasury (“Treasury”) released a report on Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector (the “Report”). The Report was released…

Artificial Intelligence

The NYDFS Plans to Impose Significant Obligations on Insurers Using AI or External Data

By: Eric Dinallo, Avi Gesser, Erez Liebermann, Marshal Bozzo, Matt Kelly, Johanna Skrzypczyk, Corey Goldstein, Samuel J. Allaman, Michelle Huang and Sharon Shaji January 29, 2024

On January 17, 2024, the New York State Department of Financial Services (the “NYDFS”) issued a Proposed Insurance Circular Letter regarding the Use of Artificial Intelligence Systems and External Consumer…

Artificial Intelligence

The Revised Colorado AI Insurance Regulations: What Was Fixed, and What Still May Need Fixing

By: Eric Dinallo, Avi Gesser, Matt Kelly, Anna Gressel, Stephanie Thomas, Samuel J. Allaman and Melissa Muse May 31, 2023

On May 26, 2023, the Colorado Division of Insurance (the “DOI”) released its Revised Draft Algorithm and Predictive Model Governance Regulation (the “Revised Regulation”), amending its initial draft regulation (the…

Cybersecurity

EU Digital Operational Resilience Act (DORA): Management Obligations and the Role of the Board

By: Robert Maddox and Tristan Lockwood April 21, 2023

Back in November 2022, we highlighted the enactment of the EU’s Digital Operational Resilience Act (“DORA”) that will impose far-reaching operational resilience requirements and Board oversight requirements on almost all…