New York City Bar Association Podcast New York City Bar Association

The City Bar Task Force on Digital Technologies dives into the complex landscape of artificial intelligence (AI) in the insurance sector, highlighting the unique regulatory environment in the United States where insurance is state regulated. It discusses the role of key states such as New York and Colorado and the national guidance provided by the National Association of Insurance Commissioners (NAIC) on the use of AI in insurance in a range of areas.

The podcast features expert insights from Jerome Walker, Sophia Duffy, Azish Filabi, and Corey Goldstein, who discuss and compare the transformative effects of AI in insurance, focusing on actions by the New York State Department of Financial Services, the Colorado Division of Insurance and NAIC on ethical implications, the challenges of managing third-party algorithm developers, and recommendations for a national framework to ensure AI's ethical use in insurance. They elaborate on the roles of governance, testing, and third-party vendor management in complying with regulatory standards and the importance of audits and certifications for AI systems to prevent unfair discrimination and promote transparency and accountability.

Tune in to learn more about:
• What existing insurance regulations and guidance apply to artificial intelligence?
• What is the role of NAIC on AI in insurance?
• What data sources are underwriters using for their AI tools and how are they combatting bias in the data?
• A comparison of regulatory approaches in New York, Colorado and elsewhere.
• Insights on third-party vendor management.

Want to learn more about innovations in digital technologies for the legal world? Join us at the City Bar’s upcoming Artificial Intelligence Institute on June 10. (This program will be available on-demand thereafter.) Visit nycbar.org/events to find all of the most up-to-date information about our upcoming programs and events.

Access a transcript of this episode here: https://bit.ly/4b9CWHv

Related articles:
The NYDFS Plans to Impose Significant Obligations on Insurers Using AI or External Data (https://bit.ly/3wrY10S)

AI-Enabled Underwriting Brings New Challenges for Life Insurance: Policy and Regulatory Considerations (https://bit.ly/3WI2OGe)

Colorado Governance and Risk Management Framework Requirements for Life Insurers’ Use of External Consumer Data and Information Sources, Algorithms, and Predictive Models (https://bit.ly/3UGwwbO)

NAIC Guidance on Artificial Intelligence (https://bit.ly/3K3XNjA)

Artificial intelligence tools are already changing the legal landscape, so how will lawyers know how to use them while complying with existing ethics rules? David Keyko and Tyler Maulsby – current and former chairs of the City Bar Professional Ethics Committee – join Azish Filabi, Executive Director of the American College of Financial Services Center for Ethics, on the latest podcast from the Digital Technologies Task Force to talk about the current landscape of ethics rules in relation to emerging digital technologies. They dig into the implications for the duties of confidentiality, disclosure and transparency while examining whether past leaps in technology – think cell phones and email – can inform the technological revolution that is happening underfoot today.

Tune in to learn more about:

• How do current legal ethics rules address digital technology?
• What legal ethics rules exist addressing artificial intelligence?
• What legal ethics considerations should lawyers have when advising clients on new technologies?
• How can legal ethics inform the choice between using a tool from a third party vendor and managing a tool in-house?
• How should lawyers think about disclosure to clients if they're using generative AI systems?

Want to learn more about innovations in digital technologies for the legal world? Join us at our upcoming City Bar Programs: Technology Innovations and the Law on May 16 (https://bit.ly/3wkjtom) and the Artificial Intelligence Institute on June 10 (https://bit.ly/3JLCbrW). (These programs are available on-demand thereafter.) Visit nycbar.org/events to find all of the most up-to-date information about our upcoming programs and events.

Access a transcript of this episode here: https://bit.ly/3UqERAr

The judiciary is poised for transformation in the AI era. From the courtroom to chambers, judges will likely need to address AI. Are current tools accurate enough for judicial work? How will judges be able to verify appropriate uses of these tools? What new opportunities and new headaches are going to crop up in courtrooms? Harut Minasian of the City Bar Working Group on Judicial Administration and Artificial Intelligence takes on those questions and more with two former federal judges: Hon. Katherine Forrest (S.D.N.Y.) and Hon. Paul Grimm (D. Md.).

Tune in to learn more about: 

• What are the challenges at the intersection of AI and evidence? 
• How are professional responsibility rules changing to account for the use of AI in legal practice? 
• Will AI democratize legal services and access to justice? 
• What is the future of AI in the courtroom?  

Use this link to access a transcript of this episode: https://bit.ly/43PZslY

The City Bar Digital Technologies Task Force teams up today with the Financial Technology Association for a deep dive into the State of Fintech. Angelena Bradfield (FTA), Adam VanWagner (MoneyLion), Matt Cameron (Remitly), Meredith Fuchs (Plaid), and Parris Sanz (WebBank) unpack the current legal and regulatory environment, especially with regard to recent moves toward an open banking rule. Our guests discuss the significant impact of fintech on financial inclusion, consumer benefits, and the evolving landscape of digital financial services. The conversation highlights the crucial role of regulatory flexibility and the potential of technologies like AI in fostering innovation while ensuring robust consumer protection. The discussion also touches on the significant implications of regulatory actions at both federal and state levels on the fintech ecosystem. The experts call for a balanced approach to regulation that encourages innovation and ensures consumer trust in the fintech industry.

Tune in to hear more about:

• How will a forthcoming open-banking rule from the CFPB change the banking industry?
• What is the potential for fintechs to expand inclusion in the financial system?
• How will the use of AI affect future partnerships between fintechs and traditional banks?
• How friendly to innovation is the current regulatory regime? How has the balance shifted over time?

Access a transcript of this episode here: https://bit.ly/3xmNDYex

Committee member Aimee Latorre speaks with Craig Dobson, a National Board Certified Health and Wellness Coach. They focused on healthy eating practices as well as how lawyers can use mindful approaches to eating that support their personal and professional well-being.

Craig is a practicing ethics attorney with a vivid personal journey into the world of nutrition and coaching. He shared some common-sense framing devices when approaching nutrition. Craig also spoke about forming habits and building new practices.

Tune in to learn more about:
• How mindful eating can contribute to attorney well-being
• How wellness coaches can support clients in making informed choices on their personal wellness journeys
• Different forms of misinformation around diet and nutrition
• Craig’s tips for starting a mindfulness practice based on his own experience starting from step one

Access a transcript of this episode here: https://bit.ly/49TTjr7

Bad actors have been some of the earliest and most skillful adopters of new financial digital technologies. They are using those technologies to move money and finance their operations in ways that present a raft of new challenges for law enforcement agents and financial regulatory agencies. The justice and financial systems are speedily reacting and learning to enforce financial laws in the digital world. It’s uncharted territory, and the laws and regulations enforced by various agencies often overlap. So the City Bar Digital Technology Task Force invited five of its members (all current and former law enforcement and compliance chiefs) to start the discussion about how market participants and other stakeholders can understand the actions of law enforcement and regulatory agencies in the digital technologies arena.

Tune in to learn more about:

• How the US at the federal, state, and local levels fight narcotics, trafficking and money laundering in the digital world.
• The ins and outs of public private partnership in crypto investigations for various government agencies.
• Why market participants and other stakeholders should help prevent illicit activities by terrorist groups like Hamas, North Korea and Iran.
• Tools to help prevent illicit activity from infiltrating the financial system.

Access a transcript of this episode here: https://bit.ly/3Tfb11g