Generative Artificial Intelligence (AI) and large language models (LLM) are taking the world by storm, presenting numerous opportunities to create business efficiencies. While the new technologies offer many potential benefits to firms, regulators and investors, they also introduce unique risks.
On this episode, we hear from Brad Ahrens, senior vice president of Advanced Analytics, Andrew McElduff, vice president with Member Supervision's Risk Monitoring team and Haime Workie, vice president and head of FINRA's Office of Financial Innovation, who are closely looking at these technologies and following developments in this space to learn how FINRA is looking at and thinking about generative AI when it comes to its own business and what it's looking at and seeing when it comes to firm use of these tools.
Resources mentioned in this episode:
Artificial Intelligence (AI) in the Securities Industry
Artificial Intelligence (AI) and Investment Fraud
Reg Notice 21-19: Obligations Related to Outsourcing to Third-Party Vendors
Rule 3110: Supervision
2024 FINRA Annual Regulatory Oversight Report
2023 Executive Order on Artificial Intelligence for Congress
NIST: Artificial Intelligence
AI Virtual Conference: Industry Views on the State of Artificial Intelligence
Overlapping Risks, Part 2: Anti-Money Laundering and Elder Exploitation
Overlapping Risks, Part I: Anti-Money Laundering and Cybersecurity
2020 Ketchum Prize: The Financial Security of Americans with Disabilities
Excessive Trading: When A Lot Becomes Too Much
Augmenting the Exam and Risk Monitoring Program with Data Analytics and Technology
FINRA’s R&D Program: Exploring the Future of Advanced Analytics
The Ombudsman: FINRA’s Confidential, Independent Resource
Encore | Beyond Hollywood: Money Laundering in the Securities Industry
Virtual Conference Panels: Fireside Chat on Current Issues
Regulation Best Interest: Implementing a New Standard of Conduct
Protecting the Most Vulnerable: How FINRA Enforcement Prioritizes Senior Investors
COVID-19 Task Force: Staying Innovative and Collaborative Through Crisis
Introducing Greg Ruppert and the National Cause and Financial Crimes Detection Programs
FINRA Enforcement: Protecting Investors and Markets in Good Times and Bad
Market Structure & COVID-19: Handling Increased Volatility and Volumes
Securities Helpline for Seniors: Celebrating 5 Years of Senior Investor Protection
Business in the Time of COVID-19: BCPs, Regulatory Relief & More
The MAP Group: Gatekeeper to the Broker-Dealer Industry
FINRA & CE Council: Enhancing Industry Continuing Education
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