Haynes and Boone, LLP Partners David McCombs, Dina Blikshteyn, and Eugene Goryunov and Associate Nicolette Nunez authored an article in The Journal of Robotics, Artificial Intelligence and Law discussing how artificial intelligence is being implemented across the banking field to gain competitive advantage but that, at the same time, those using this technology should be aware of the pitfalls to minimize liability down the road. Read an excerpt below:
Financial institutions around the world have made many uses of artificial intelligence (AI), including the “automated trading and investment discovery, trading strategies, robo-advisors, voice-based commerce, customer behavior analysis, and chatbots for customer services, identity verification and fraud detection.” In fact, some banks, such as J.P. Morgan Chase, have fully funded and developed entire AI research sectors intended to find innovative and productive ways to use AI in investment banking.
To read the full article in The Journal of Robotics, Artificial Intelligence and Law, click here.
