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Investment Network In the Loop
Artificial Intent: The Question of Intent in the Age of Artificial Intelligence

March 26, 2019
12:15-1:00 p.m. CDT

Stradley Ronon's Chicago Office
191 N. Wacker Drive, #1601
Chicago, Illinois

Nicole Kalajian, Stradley Ronon

Dr. Collin Starkweather, Starkweather Economics, LLC
Dr. Izzy Nelken, Super Computer Consulting

Kara Stein, a departing SEC Commissioner, recently posed the question, “How do you regulate algorithms?” Recent developments in artificial intelligence, machine learning, and related technologies have seen developers of these technologies become ever farther removed from the results generated by these models. As the technologies continue to advance, the potential to draw inferences may be limited by the inherent nature of the technology.

Spoofing is one of a variety of trading activities that regulators consider to constitute illegal market manipulation and has been the focus of increasing regulatory scrutiny in recent years. It is defined by the Dodd-Frank Act as “bidding or offering with intent to cancel before execution.”

Spoofing serves as a good backdrop against which to consider the question of intent not only because of the ready connection of trading strategies to implementations in software and the court's focus on these algorithms as expressed in code, but also because of the rapidity with which leading-edge advances in technologies such as artificial intelligence and machine learning are absorbed and deployed by trading operations.

This talk will discuss recent advances in technology which may inform the question of intent not only with regards to spoofing, but more broadly in circumstances where the court may be disposed to draw inferences from code, as these technologies continue to advance and become more widely adopted.Related practical considerations with respect to the gathering and review of technical evidence where code and other artifacts are available will also be discussed.

Illinois CLE credit is pending. 
The meeting is free of charge but registration is required as space is limited.


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