On March 20, 2024, the White House Office of Management and Budget (“OMB”) issued a Memorandum on Advancing Governance, Innovation, and Risk Management for Agency Use of Artificial Intelligence (the “Memo”) to the heads of the executive departments of all federal departments and agencies. The Memo…
The U.S. Department of the Treasury recently released a comprehensive report on managing artificial intelligence (AI) specific cybersecurity risks within the financial services sector. The Report was issued as just one of the steps mandated by Executive Order 14110 on Safe, Secure, and Trustworthy…
Artificial Intelligence (AI) continues to grow apace despite deal activity dropping overall in 2023 in response to economic and market instability brought on by a combination of high interest rates, inflation volatility, and geopolitical tension. AI can provide innovative improvements to the M&A…
Effective for plan years beginning on or after January 1, 2024, plan sponsors of 401(k) plans must comply with new rules covering temporary, part-time, and seasonal workers. The Internal Revenue Service (“IRS”) issued proposed regulations on November 27, 2023 which provided much-needed guidance on…
As discussed in our past alert, President Biden Issues Executive Order on Artificial Intelligence, President Biden issued an Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence (“Executive Order”) on October 30, 2023. The Executive Order requires…
On October 30, President Biden issued his Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence, along with a companion Fact Sheet issued by the White House. The Executive Order establishes the federal government’s priorities with respect to Artificial…
Recently, the Equal Employment Opportunity Commission (“EEOC”) issued a new publication on the impact of software, algorithms, and artificial intelligence (“AI”) in employers’ decisions on who to hire, fire, and promote (collectively “Selection Decisions”). Employers are increasingly using tools…
