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ENFORCEMENT AGENCIES WARN ON POTENTIAL AI DISCRIMINATION:


WHAT’S AT STAKE FOR FINANCIAL SERVICES AND FINTECH COMPANIES DEVELOPING AND
DEPLOYING AI TOOLS

Please join members of Orrick’s Artificial Intelligence & Machine Learning team
to discuss financial services implications stemming from the joint statement
issued last week by the Consumer Financial Protection Bureau (CFPB), the
Department of Justice (the DOJ), the Equal Employment Opportunity Commission
(EEOC) and the Federal Trade Commission (FTC) warning that the use of artificial
intelligence (AI) “has the potential to perpetuate unlawful bias, automate
unlawful discrimination, and produce other harmful outcomes.”

 


WEDNESDAY, MAY 3

12:30 – 1:30 p.m. PT
2:30 – 3:30 p.m. CT
3:30 – 4:30 p.m. ET

 

Webinar

RSVP

 

The agencies also stated that their existing legal authorities apply to AI and
other “innovative technologies,” and identified skewed data and datasets, opaque
and complex models, and tool exploitation as potential discrimination sources.
While not mentioned in the statement, the agencies are likely to focus on
differential outcomes rather than a discriminatory process, drawing upon
disparate impact and pattern-or-practice theories to assess AI tools.

 

This update will cover the explicit text of the statement (drawing on the team’s
deep experience in fairness regulation and AI tools) and read between its lines
to look at the potential risk implications for financial services and fintech
companies developing AI or using AI to offer products and services.


SPEAKERS

JOHN COLEMAN

PARTNER

WASHINGTON, DC.

 

ANNETTE HURST

PARTNER

SAN FRANCISCO

 

JEFF NAIMON

PARTNER

WASHINGTON D.C.

 

CAROLINE STAPLETON

PARTNER

WASHINGTON, D.C.


MODERATOR

KAREEM SALEH

FOUNDER & CEO, FAIRPLAY AI

 

 

 

 

FOR MORE INFORMATION OR QUESTIONS, PLEASE CONTACT:
AMY HUANG | AHUANG@ORRICK.COM

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