Lawyers advise banks on data encryption to ease adoption of AI technologies

Attorneys are advising banks on the value of data encryption policies as financial firms consider adopting artificial intelligence technologies to enhance customer services and improve financial risk assessments, while warning of an anticipated onslaught of new AI-related regulations.

“Recognize the value of data privacy and encryption. Understand what data the AI program is collecting and how the program is storing that data. Encryption will better protect a customer’s data when the data is being moved into machine learning models and...