In an article in the New York Law Journal, litigation and enforcement attorneys Amy Jane Longo, Lisa Bebchick, Shannon Capone Kirk, Isaac Sommers and Lauren Brady discuss the use of AI in the financial services industry.
In the piece, the authors examine key ways in which the industry is adopting AI, the growing regulatory scrutiny of the industry’s AI usage, and notable potential pitfalls and best practices for firms in the financial services industry.
As the authors note, financial services firms “should ensure that they do not ignore the potential risks of using AI” but that despite these risks, “AI holds great promise for enhancing financial services providers’ abilities to serve more clients than ever before.”
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