AI – Enabled Innovation, Part 1: Regulatory Intervention & AI in Financial Services
AI – Enabled Innovation, Part 1: Regulatory Intervention & AI in Financial Services By Mark Rasdale & Cezary Bicki on January 17, 2020 Posted in Artificial Intelligence The Big Data Challenge Earlier this month, we highlighted that there will be an increased focus by the Data Protection Commission (DPC) in Ireland on ensuring privacy by design and default during 2020. From the regulator’s perspective innovation is encouraged, provided it is done in an accountable, ethical and fair way. Already, with the codification of Privacy Impact Assessments and accountability under the GDPR, we are seeing clients realise that key decision makers in the organisation ought to be fully briefed on how risks are mitigated in relation to Big Data and artificial intelligence (AI) – enabled technology projects. As we reported back in June, the promise of new technology, such as AI – based automation and enhancement has turned many businesses into data hoarders. That appr