Ghosts in the machine: artificial intelligence – legal risk
Part of the Ghosts in the Machine b:INFORM Series In this article forming part of our b:INFORM Ghosts in the Machine Series, we analyse the survey findings relating to legal risks arising from the use of Artificial Intelligence (“AI”) in financial markets and institutions. Click here for our article analysing the survey findings relating to regulatory risks arising from the use of AI. Key Finding: A total of 44 % of all survey respondents and 56 % of survey respondents with a legal background felt that their businesses (not third party businesses) did not fully understand the legal risks associated with AI. Analysis This is a remarkable finding as it appears to clash with financial institution’s (“FI”) approach to legal risk. FIs have low appetite for conducting any business or…
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