Presentation
Artificial Intelligence and Machine Learning – Business Applications, No Action Letters, and Regulatory Compliance Issues
Read Time: 1 minABA Business Law Section Consumer Financial Services Committee
WebinarOn Wednesday, January 24, Member Robert Savoie (New Orleans) co-presented a non-CLE webinar entitled “Artificial Intelligence and Machine Learning – Business Applications, No Action Letters, and Regulatory Compliance Issues”. This webinar, hosted by the ABA’s Consumer Financial Services Committee, provided a brief, high-level overview of the concepts of artificial intelligence and machine learning (“AI/ML”), discussed how AI/ML are being used in consumer lending operations and other use cases for AI/ML in business operations, walked through the CFPB’s no-action letter process designed to facilitate innovation in consumer financial services, and examined some of the more common regulatory compliance issues that arise when implementing AI/ML in consumer lending operations.