By now, we all know what AI is. Some of us use ChatGPT as our search engine, confidant, secretary, travel agent, and much more. Others, at least, are acutely aware that AI exists, because everyone else is talking about it,
SourcingSpeak
SourcingSpeak, published by Pillsbury Winthrop Shaw Pittman LLP, focuses on legal issues related to technology sourcing and management. The blog covers topics such as mainframe system modernization, software licensing challenges, cloud computing in regulated industries, and the impact of emerging technologies like artificial intelligence on compliance and regulatory frameworks. It also addresses data protection laws including GDPR, AI regulatory developments such as the EU AI Act, and the intersection of technology with financial services and government contracts. The blog provides insights into risk management, contractual considerations, and evolving legal standards affecting technology procurement and deployment.
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An Update on Cloud Computing in the Financial Sector
In 2023, we summarized the U.S. Department of Treasury report that raised concerns about the growing reliance of financial institutions (FIs) on cloud computing. Treasury highlighted structural imbalances and regulatory blind spots in the relationship between FIs and cloud service…