What Does AI Safety Mean for Fintechs?

There have been big headlines in the world of AI over the past few weeks. 

In this episode of Skadden’s “Fintech Focus” podcast, host Joseph Kamyar is joined by Nicola Kerr-Shaw to discuss AI safety within the fintech sector. They delve into recent developments, including the EU AI Act and the U.K.-U.S. landmark agreement on AI safety. The episode also covers key takeaways for financial service entities regarding the EU AI Act, practical compliance strategies for fintechs, contractual risks that are starting to emerge for businesses concerning client-facing AI tools and privacy questions surrounding safeguarding personal data in the AI space. 

💡 Meet Your Host 💡

Name: Joseph Kamyar

Title: European Counsel, Corporate at Skadden

Specialty: “Fintech Focus” host and European counsel Joseph Kamyar advises on a wide variety of corporate transactions, including cross-border private mergers and acquisitions, fundraisings, joint ventures, corporate reorganizations and general corporate matters, with a particular focus on the financial services, technology and media sectors.

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💡 Featured Guest 💡

Name: Nicola Kerr-Shaw

What she does: Counsel Nicola Kerr-Shaw, a key member of our global Cybersecurity and Data Privacy Practice and authority on AI-related issues, represents financial institutions, technology companies and other businesses in matters pertaining to AI, cybersecurity, data and privacy, and emerging technologies. She works in tandem with companies to creatively and effectively help them achieve their commercial goals.

Organization: Skadden

Words of wisdom: “Financial institutions have been using a form of AI for years and for a wide range of purposes. Financial services is also heavily regulated already. And so AI had therefore been developed within a sensible and controlled environment in a way which ensures continued compliance with financial regulation.”

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Fintech Focus is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. This podcast is provided for educational...