New Rules, New Tools, AI and Compliance ROB WILLIAMS The conversation was moderated by Doug Austin, editor
Artificial intelligence brings exciting new possibilities to companies trying to navigate the expanding realms of data and compliance.
of the eDiscovery Today blog, and the panel consisted of Timia Moore, strategic risk assessment manager for Wells Fargo; Eric Pender, engagement manager at H5; Kimberly Pack, associate general counsel of compliance
We live in the era of Big Data. The exponential pace of technological development continues to generate reams of digital information that can be analyzed, sorted, and utilized in previously impossible ways. In this world of artificial intelligence (AI), machine learning, and other advanced technologies, questions of privacy, government regulations, and compliance have taken on a new prominence across industries of all kinds. With this in mind, e-discovery and technology-assisted review provider H5 recently convened a panel of experts to discuss the latest compliance challenges that organizations are facing today, as well as ways that artificial intelligence (AI) can be used to address those challenges. Other key points covered in the discussion included: • Use cases involving technical approaches to data classification • Data classification, methods and approach
for Anheuser-Busch; and Alex Lakatos, partner at Mayer Brown.
Compliance Challenges Organizations Are Facing The rapidly evolving regulatory landscape, vastly increased data volumes and sources, and stringent new privacy laws present unique new challenges to today’s businesses. Whereas in the recent past, it may have seemed liked regulatory bodies were often in a defensive position, forced to play catch-up as powerful new technologies took the field, these agencies are increasingly using their own tech to go on the offensive. This is particularly true in the banking industry and broader financial sector. “With the advent of fintech and technology like AI, regulators are moving from this reactive mode into a more proactive mode,” said Timia Moore, strategic risk assessment manager for Wells Fargo. But the trend is not limited to banking and finance. “It’s not industry specific,” she said. “I think regulators are really looking to be more proactive and figure out how to identify and assess issues, because
• How to set expectations within your organization for the deployment of AI technology
ultimately they’re concerned about the consumer, which all of our companies are and should be as well.”
• How to keep an AI solution compliant
Indeed, growing demand by consumers for increased privacy and better protection of their personal data
• What companies can do to keep from introducing bias into their AI models
is a key driver of new regulations around the world, including the General Data Protection Regulation (GDPR) in the European Union and the California Consumer Privacy Act (CCPA) and various similar laws CORPORATE COUNSEL BUSINESS JOURNAL
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