- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-04-26T18:28:00
Officials at four U.S. agencies warned Tuesday they are prepared to act against bias or discrimination that involves artificial intelligence (AI).
A joint statement issued by Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB); Kristen Clarke, assistant attorney general for the Justice Department’s Civil Rights Division; Charlotte Burrows, chair of the Equal Employment Opportunity Commission; and Lina Khan, chair of the Federal Trade Commission (FTC), said existing laws against discrimination apply to the use of automated systems, including AI.
By issuing the statement, the agencies reiterated their commitment to monitor AI and promote responsible innovation.
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The European Union’s draft law to regulate artificial intelligence must be updated to include overarching controls on chatbots like ChatGPT, a group of European Parliament members wrote in an open letter.
The Federal Trade Commission is keeping close watch on companies that use the term “artificial intelligence” when marketing their products.
The EU’s agency for occupational safety and health released a report examining the risks and opportunities of AI-based worker management systems for employee’s physical and mental wellbeing.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
