artificial intelligence (AI) News

NAIC Releases Highly Anticipated Draft Model Bulletin on Insurers’ AI Use

On July 17, 2023, the Innovation, Cybersecurity and Technology (H) Committee of the National Association of Insurance Commissioners (NAIC) released for comment a highly anticipated model bulletin (Model Bulletin) on regulatory expectations for the use of artificial intelligence systems (AI …

SEC Set to Adopt New Cyber Rule, Unveils Brokerage AI Proposal

Wall Street’s top regulator on Wednesday was poised to adopt new rules requiring publicly traded companies to disclose hacking incidents, a measure officials said was being taken to help the investing public contend with the mounting cost and frequency of …

Claims Insurtech Tractable AI Raises $65M in Funding Led by SoftBank

⁠Tractable, the London-based insurtech that uses artificial intelligence (AI) for visual claims assessments and disaster recovery, announced a $65M Series E investment led by SoftBank Vision Fund 2. Existing investors Insight Partners and Georgian participated in the round. Tractable said …

FTC Opens Investigation Into OpenAI Over Misleading Statements

The U.S. Federal Trade Commission has opened an investigation into OpenAI on claims it has run afoul of consumer protection laws by putting personal reputations and data at risk, the strongest regulatory threat to the Microsoft-backed startup yet. The FTC …

Artificial Weatherman? AI Could Better Predict Hurricanes, Research Paper Says

Artificial Intelligence may be the key to more accurate and more timely hurricane predictions, China-based researchers have reported in the scientific journal Nature. In two papers in the journal, the researchers, including scientists affiliated with the Chinese tech company Huawei, …

Comedian Sarah Silverman Sues Meta, OpenAI for Copyright Infringement

Comedian Sarah Silverman and two authors have filed copyright infringement lawsuits against Meta Platforms and OpenAI for allegedly using their content without permission to train artificial intelligence language models. The proposed class action lawsuits filed by Silverman, Richard Kadrey and …

Robots Say They Won’t Steal Jobs, Rebel Against Humans

Robots presented at an AI forum said on Friday they expected to increase in number and help solve global problems, and would not steal humans’ jobs or rebel against us. But, in the world’s first human-robot press conference, they gave …

Law Firms Are Recruiting More AI Experts as Clients Demand ‘More for Less’

Chatbots, data scientists, software engineers. As clients demand more for less, law firms are hiring growing numbers of staff who’ve studied technology not tort law to try and stand out from their rivals. Law firms are advertising for experts in …

ChatGPT Creator OpenAI Sued for Theft of Private Data in ‘AI Arms Race’

ChatGPT creator OpenAI Inc. is stealing “vast amounts” of personal information to train its artificial intelligence models in a heedless hunt for profits, a group of anonymous individuals claimed in a lawsuit seeking class action status. OpenAI has violated privacy …

‘Comprehensive Legislation’ Needed to Address AI, Senator Schumer Says

U.S. Senate Majority Chuck Schumer on Wednesday will call for “comprehensive legislation” to advance and ensure safeguards on artificial intelligence (AI). Governments around the world are considering how to mitigate the dangers of the emerging technology. Surging popularity of so-called …