Goto

Collaborating Authors

 Law


Regtech – the new kid on the fintech block » GTNews.com

#artificialintelligence

Regulatory compliance has always been and will always be one of the top priorities and concerns of every financial institution (FI). Regulatory reforms following the global financial crisis of 2008 compelled FIs to make substantial investments in risk and compliance – both in terms of technology and headcount – to prevent and remediate regulatory issues. Despite their best efforts, FIs often find themselves falling short of regulatory obligations owing to highly manual processes and silo-based solutions which hinder transparency, efficiency and availability of fast and meaningful data. Non-compliance means being slapped with hefty penalties not to mention consequent reputational damage. Compliance processes today need to be backed up like never before by automation, artificial intelligence and big data – to name a few crucial technologies – to keep up with increasing regulation and stricter enforcement.


WIKILEAKS BREAKING NEWS: SOCIAL MEDIA ARTIFICIAL INTELLIGENCE POSES THREATS TO HUMANITY

#artificialintelligence

Only Bernie Sanders can win. "What the prosecutors should be looking at are Hillary Clinton's 33,000 deleted emails." One of the fellow staffers said some of the computers the Awans managed were being used to transfer data to an off-site server.


What Should We Call Silicon Valley's Unique Politics?

The Atlantic - Technology

The "do not regulate" category was formed from responses to questions about regulating Uber, how the gig economy should be structured, whether it is too hard to fire workers, and the general proposition of whether "government regulation of business does more harm than good," as well as specific questions about regulating drones, self-driving cars, and internet companies. For example, 80 percent of tech founders think economic inequality is fine if it means the economy grows faster and 75 percent of tech founders think labor unions should lose influence. "They look like Republican donors when we ask them these questions," said David Broockman, a Stanford Graduate School of Business professor who coauthored the study with fellow academic Neil Malhotra and journalist Greg Ferenstein. And yet, when the researchers asked the tech founders about taxation and redistribution policies, they expressed major support for things like "universal healthcare, even if it means raising taxes," increases in spending on the poor, and taxes on high-income individuals. If tech founders had their way, government regulation might not stop you from financially falling through market action, but it'd bounce you back up.


Before trying robot judges, let's learn from robot referees

Popular Science

In 2012, the International Football Association Board--the 131 year old rulemaking organization for soccer around the world--said it would allow use of goal-line technology. The decision came after nearly a decade of arguments, bad calls, and angry fans, and is still a point of discussion today. That type of extended and bitter debate repeats any time the governing body of any sport considers adding technology to the mix. Those constant conversations caught the attention of Meg Jones and Karen Levy, who study law and technology at Georgetown and Cornell, respectively. Jones says it's quite tricky to figure out how people feel about the law enforcement technologies she studies, like automatic cameras at traffic lights, police body cameras, and courtroom computer programs.


Most of us are worried about AI rules » Banking Technology

#artificialintelligence

With every technological breakthrough there needs to be updates to the rules, and the UK general public think the government needs to pull the finger out when it comes to artificial intelligence (AI), reports Telecoms.com That rules need to be changed in relation to everyday life is a given, but it would also be a fair assumption that government and regulators will be miles behind. New research from Machina Summit.AI has revealed the UK general public are concerned about the role of AI in an unregulated environment. It's an interesting contradiction, but one which is understandable. The optimism is present, but so is a sense of realism to the fact there are nefarious individuals out there who will use the power of good for evil. The dark web is there for a reason after all.


House Passes Self-Driving Car Bill

WIRED

The House just passed a bipartisan bill to encourage autonomous vehicles testing. On Wednesday, the House of Representatives did something that's woefully uncommon these days: It passed a bill with bipartisan support. The bill, called the SELF DRIVE Act, lays out a basic federal framework for autonomous vehicle regulation, signaling that federal lawmakers are finally ready to think seriously about self-driving cars and what they mean for the future of the country. "With this legislation, innovation can flourish without the heavy hand of government," said Representative Bob Latta, the Ohio Republican who heads up the Digital Commerce and Consumer Protection Subcommittee, in a floor speech just before the SELF DRIVE Act passed by a two-thirds majority. The Senate will need to pass its own bill before the legislative framework can become law.


Apple Pushing New iOS 11 Personal DJ, Driving Mode Features

International Business Times

Apple is pushing its upcoming iOS 11 update for iPhones and iPads before it holds its press event next week. Starting Thursday evening, Apple began sending out notifications that said "Learn about the new Control Center coming in iOS 11" to prepare users for the software update. Apple is set to release iOS 11 this month. The company will hold its press event September 12, in which it will likely reveal the iPhone 8. The event will reportedly take place at 10 a.m PST in the Steve Jobs Theater at the new Apple Park campus in Cupertino, Calif., and could include a bigger preview of iOS 11.


Self-driving cars must have technology to prevent use in terror, lawmakers say

The Guardian

Self-driving vehicles will need to be equipped with cybersecurity technology to prevent them from being used in terrorist attacks, according to legislation passed by the US House of Representatives on Wednesday. With substantial bipartisan support in a voice vote, the House approved the so-called Self Drive Act, which seeks to speed the introduction of self-driving vehicles on US roads by streamlining the regulatory process. A new law does not appear to be imminent, however, as corresponding legislation is yet to be introduced in the Senate. Recent terror attacks in Charlottesville,, London, Nice and elsewhere have involved vehicles being driven into crowds. Under the House bill, self-driving or autonomous vehicles would need to be equipped with defenses against hacking, "unauthorized intrusions and false and spurious messages or vehicle control commands".


A Quick Q&A on (Deep) Reinforcement Learning – ROSS' #LegalTech Corner

#artificialintelligence

Jimoh Ovbiagele is the Chief Technology Officer & co-founder of ROSS Intelligence. He is a self-taught programmer, starting at the age of 10, who founded several startups in college and worked on self-driving cars. When he was 21, Jimoh came up with the idea for and co-founded ROSS Intelligence. Two years later, he was named by the American Bar Association as a Legal Rebel and by Forbes as one of their 30 Under 30. He speaks around the world -- from Canada to China -- about artificial intelligence and the future of law.


Low employment figures force employers to turn to high-tech tools for hiring

#artificialintelligence

Employers understandably are looking to technology to help resolve the skills gap dilemma. Scanning resumes for relevant-to-the-job data has sped up the initial process of weeding out candidates. And machine intelligence is capable of scanning other information on candidates, such as social media content and work samples, even facial expressions. Technology has the capacity to make talent selection fairer, especially in diversity hiring. Technology can uncover unconscious bias in hiring and help recruiters discover their own bias when selecting candidates -- though it is not a panacea for diversity problems.