Artificial Intelligence (AI) Transactions: Thoughts and a Few Tips

Christine Reddy, Vice President, Deputy General Counsel, Deputy Corporate Secretary, Federal National Mortgage Association
Tanguy Carbonnieres, In-House Counsel, Fannie Mae

Predictive algorithms and computers independently generating output are not new. Some of us remember Deep Blue beating Gary Kasparov. Well, that was in 1997, and there are many antecedents to smart computing, however crude by today’s standards. After many years of anticipation, or trepidation for those spooked by 2001: A Space Odyssey, the AI train has left the station – doubtless without a conductor. AI controls your car, selects your favorite songs, second guesses your doctor’s diagnosis, assesses your insurance claims, detects fraud on your credit card account, or, soon, may underwrite your loan applications or select stock trades. Now that companies can harness the increasing computational power, almost-limitless cloud systems to process Big Data, and the ubiquity of Internet of Things (IoT), AI has matured towards large scale implementation and AI-based R&D and deployments are spiking. PwC reported from Tractica, a market research firm, that estimates of AI-generated revenues of $644 million in 2016 will grow to $15 billion by 2022 , while Gartner predicts that by 2020, 80% of CIOs will be piloting AI programs through a combination of buy, build, and outsourced efforts.

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USA Artificial Intelligence Banking & Finance July 2018 Vol.11, No. 44, Summer 2018

Christine Reddy

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Christine E. Reddy, is Vice President and Deputy General Counsel at Fannie Mae, in charge of those matters as well, as well as corporate governance and the corporate secretary function for the company's Board of Directors. Before joining Fannie Mae, Christine was Deputy General Counsel and Corporate Secretary at a nonprofit media corporation, Public Broadcasting Service (PBS). She has enjoyed over twenty years as in house counsel.

Tanguy Carbonnieres

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Tanguy de Carbonnieres is Deputy General Counsel at Fannie Mae in Washington, DC. He and his team are in charge of al legal aspects of Intellectual Property matters, Data licensing, IT Transactions, Privacy, Cybersecurity, and general Procurement for the company. Tanguy is a regular speaker at industry conferences on intellectual property, with a particular focus on financial services industry. Tanguy has 18 years of in-house experience and prior to that, practiced law in law firms in the US and France. His co-author and manager, Christine E. Reddy, is Vice President and Deputy Corporate Secretary at Fannie Mae, in charge of those matters as well, as well as corporate governance and the corporate secretary function for the company's Board of Directors. Before joining Fannie Mae, Christine was in-house counsel at PBS.

Fannie Mae

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Fannie Mae is leading source of financing for US mortgage lenders, providing access to affordable mortgage financing in all markets at all times. This financing makes sustainable homeownership and workforce rental housing a reality for millions of Americans.

Federal National Mortgage Association

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Fannie Mae is leading source of financing for US mortgage lenders, providing access to affordable mortgage financing in all markets at all times. This financing makes sustainable homeownership and workforce rental housing a reality for millions of Americans.

USA Artificial Intelligence Banking & Finance July 2018 Vol.11, No. 44, Summer 2018
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