'The Big Weekend Show' co-hosts discuss Tinder user traffic peaking during'Dating Sunday.' A judge has dismissed kidnapping and conspiracy charges filed against five Massachusetts college students accused of luring a man to their campus in a "Catch a Predator"-style scheme using a dating app. A Worcester District Court judge dismissed the charges against Kelsey Brainard, Isabella Trudeau, Joaquin Smith, Kevin Carroll and Easton Randall on Tuesday. The decision came after lawyers for the teenage Assumption University students claimed prosecutors lacked probable cause and filed motions to dismiss last month. Information regarding the status of a sixth student, charged as a juvenile, was not immediately available.

Prior to 2018, regulators resisted recommending the use of Machine Learning (ML) based Artificial Intelligence (AI) for AML compliance. There was a mindset shift in mid 2018 indicating that proceeding with caution in implementing AI approaches for AML is appropriate. Regulators realize the adoption of recent innovation, such as the use of AI-ML and robotic process automation (RPA) techniques, enables AML compliance improvements not otherwise attainable. A risk-based approach to compliance, underpinned by AI/Machine Learning, creates opportunities for governance and process refinement as well as identifying potential untapped revenues. Reliance on box-ticking approaches familiar to users of legacy rules-based compliance systems is no longer sufficient.

In a speech delivered at "Fintech and the New Financial Landscape" in Philadelphia on November 13, 2018, Federal Reserve Board Governor Lael Brainard discussed how technology is changing the financial landscape and the lessons being learned about artificial intelligence (AI) in financial services. According to Governor Brainard,"[a]lthough it is still in the early days, it is already evident that the application of artificial intelligence (AI) in financial services is potentially quite important and merits our attention." She noted that the Fintech working group is working across the Federal Reserve System "to take a deliberate approach to understanding the potential implications of AI for financial services, particularly as they relate to our responsibilities." The focus of Governor Brainard's speech was on the branch of AI known as machine learning – which applies and refines a series of algorithms on a large data set in order to identify patterns and make predictions for new data. Brainard highlighted how recent technological advances have made the three key components of AI – algorithms, processing power, and big data – all increasingly accessible.

Lael Brainard, a member of the Board of Governors of the Federal Reserve System, recently gave a speech titled What Are We Learning about Artificial Intelligence in Financial Services? Before I tell you what her answers were, I'll tell you what I think they're learning: Not enough. Brainard started her speech with the now-customary breathtaking "OMG, AI and data are transforming the world at an alarming rate!" intro that, apparently, all speakers are required to make these days when talking about AI. "The potential breadth and power of these new AI applications inevitably raise questions about potential risks to bank safety and soundness, consumer protection, or the financial system. The question, then, is how should we approach regulation and supervision? It is incumbent on regulators to review the potential consequences of AI, including the possible risks, and take a balanced view about its use by supervised firms."