Keeping Up with Artificial Intelligence Law In the Workplace

Estimated reading time: 2 minutes

We’ve spent a lot of time over the past year talking about artificial intelligence (AI). We’ve discussed having a strategy, setting goals, developing a policy and much more. I’m not really here to talk about that today. I will leave some links at the end of this article as a reminder, just in case you want to take a look at them. 

However, there’s one aspect of AI we haven’t spent a lot of time talking about and that’s the law. 

I recently came across a resource that I wanted to share with you. Our friends at Foley & Lardner LLP published “The Fast Follower’s Guide to Recent AI Law”. I found it to be interesting and informative. It talks about some things to consider when researching, purchasing, and implementing AI solutions. 

One of the sections that really caught my attention was on AI and 401(k) plan fiduciary implications. We often talk about artificial intelligence and talent acquisition – which is important – but what about AI and 401(k) plans? 

I don’t want to give everything away (and I’m also not a lawyer), but in this section about 401(k) plans the attorneys talk about how investment organizations are using AI tools to track earnings calls, assist financial advisors, and manage stock funds. They also mention a new European Union artificial intelligence law designed to create a regulatory framework for protecting consumers. You can check it out for yourself. 

Artificial intelligence tools are moving quickly. Business and government leaders appear to be very supportive of using AI. As human resources professionals, it only makes sense for us to stay current with what’s happening … that includes keeping up from a legal perspective. 

P.S. If you’re looking for some resources about AI strategy, goal setting, and policies, I hope you’ll take a look at these articles.

Organizations Need an Artificial Intelligence Strategy

Organizations Should Identify Their Artificial Intelligence Goals

10 Things to Include in Your Artificial Intelligence Policy

Image captured by Sharlyn Lauby while exploring the streets of Lake Buena Vista, FL

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