Fair Use of AI in Financial Services – A new White Paper with UK Finance

Recent years have seen growing scrutiny of the use of artificial intelligence (AI) in financial services and a greater awareness of the potential of these technologies. It is no surprise that questions of AI fairness and bias are increasingly front of mind. Existing law is not keeping up with the rise and speed of new technology. With UK Finance, we have published a white paper, as a contribution to the debate on how to apply ethical principles in practice to the benefit of firms and customers. Our use of practical scenarios has helped refine our understanding of the fair use of AI and the practical challenges of building a high-level ethical framework. Read more

ICO publishes consultation on the AI and data protection risk toolkit

Executive Summary On 12 October 2021, the Information Commissioner’s Office (“ICO“) opened its consultation in relation to the use of the beta version of its AI and data protection risk mitigation and management toolkit (the “Consultation“). The Consultation runs until 1 December 2021 and the ICO is seeking responses from all industry sectors and from … Read more

China’s Personal Information Protection Law creates challenges for compliance

China’s Personal Information Protection Law (“PIPL”) was passed on 20 August 2021. PIPL presents certain challenges for compliance, which is required when it comes into force on 1 November 2021. Overview Lack of clarity over what constitutes consent Lack of clarity over “contract necessity” as a complete exception to consent Safeguards for transferring personal information … Read more

EU Commission releases regulatory proposal to increase trust in AI

Key takeaways The European Union Commission released its long awaited proposed regulation of artificial intelligence on 21 April 2021 (see press release here), which sets out a risk-based approach to regulation designed to increase trust in the technology and ensure the safety of people and businesses above all. The regulation has extra-territorial scope meaning that … Read more

Happy International Data Privacy Day: Our predictions for 2021

Happy International Data Privacy Day! And what better day than today, to explore what 2021 is likely to have in store for data and privacy? Almost three years after the EU General Data Protection Regulation (GDPR) came into force, and now 28 days since the UK GDPR replaced it in the UK following Brexit, data … Read more

Could the UK move away from GDPR to help foster innovation?

Publicly the UK government is pursuing an adequacy decision from Europe regarding data protection and privacy regulations, but recent comments from ‘Number 10’ could be interpreted as saying the UK may be comfortable pursuing a different privacy path to the EU from the end of December 2020. The issue is about more than making changes … Read more