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ARTICLE · 10 JULY 2023

AI And Investment Funds

William Fry LLP
William Fry LLP
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William Fry LLP

William Fry LLP

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The growth and proliferation of generative Artificial Intelligence (AI) in recent months brings with it new risks (and opportunities) for the Financial Services (FS) sector.

IrelandTechnology
Barry Scannell
Barry Scannell
Clodagh Ruigrok
Clodagh Ruigrok
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The growth and proliferation of generative Artificial Intelligence (AI) in recent months brings with it new risks (and opportunities) for the Financial Services (FS) sector. Regulated entities, including funds and fund service providers, should be preparing now.

AI will introduce new regulatory obligations and shareholder considerations, and will have an impact for example on risk assessments, governance frameworks, sustainability assessments, data protection and anti-money laundering.

The new EU Artificial Intelligence Act (AI Act) will introduce a new regulatory framework and obligations on both developers of AI systems and their users, for example funds and/ or their service providers. It will serve as a framework around which organisations can base their AI regulatory policies, in areas such as transparency, accuracy, risk management, data governance, and human oversight.

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