Artificial Intelligence

Federal banking agencies have issued revised model risk management guidance in SR 26-2, introducing a more explicitly risk-based approach to model governance, validation, and monitoring.

Enterprise system transformations like ERP, CRM, and HCM represent some of the most complex organizational investments, yet more than half fail to meet budget, timeline, or value expectations.

A recent Administrative Review Tribunal decision has clarified the boundaries of facial recognition technology use in Australian retail, examining Bunnings' controversial trial system that scanned customers to identify repeat offenders.

The Channel Islands courts have issued cautionary guidance on the use of artificial intelligence in litigation, emphasizing that all parties bear personal responsibility for ensuring AI-generated legal materials are accurate and not misleading. Recent judgments from Guernsey and Jersey highlight the risks of AI hallucinations and stress the duty owed to courts to verify the authenticity of cited cases and legal authorities.