Clifford Chance

The direction for a new, global phase of AI regulation is being set following the 2023 publication of the G7 and Hiroshima principles, the Bletchley Declaration on AI safety signed by 28 jurisdictions, the Biden Administration's 2023 Executive Order on AI and AI Bill of Rights, and the recent historic agreement on the EU's AI Act.

As part of our recent International Festival of Fintech Aman Thind, Global Chief Architect at State Street, joined our panel of global Clifford Chance experts to consider the impact of the rapidly evolving AI regulatory landscape globally and discuss the developing legal, ethical and reputational risks that financial institutions face when using AI.

Topics discussed include:

• Developing AI use cases for financial services, both internally and in customer-facing products.
• Update on global regulation including the latest on the EU's AI Act and its implications for fintechs and financial institutions, and how the UK and US landscapes compare.
• Practical considerations for businesses deploying AI, including around contracting and procurement and governance best practice.
• Some of the key risks and potential liability issues for firms to consider, including the key role of explanations and humans-in-the-loop.

Speakers:

• Aman Thind, Executive Vice President, Global Chief Architect, State Street
• Boika Deleva, Senior Associate, Clifford Chance
• Monica Freely, Senior Associate, Clifford Chance
• James McPhillips, Partner, Clifford Chance
• Kate Scott, Partner, Clifford Chance