Tools & Platforms
Fintech lobby pushes for AI expertise in California DOJ
David Paul Morris/Bloomberg
As California considers new artificial intelligence requirements for financial regulators, trade groups and legal experts are pushing regulators to recruit AI experts to produce guidance for financial institutions adopting newer forms of the technology.
The American Fintech Council released a statement on Monday in “strong support” of SB 69. The AFC stated that the bill would require the attorney general to “recruit or train personnel with AI expertise.”
“AFC commends California lawmakers for recognizing the need to build regulatory capacity around AI and stands ready to work with policymakers to ensure consumer-first, innovation-friendly policies that preserve California’s standing as a leader in responsible financial technology,” the statement said.
Ian P. Moloney, head of policy and regulatory affairs at AFC, told American Banker that AI as a tool has been in the banking industry for many years, particularly through machine learning and automation. New regulations concerning more recent forms of AI, such as generative and agentic AI, may intersect with existing regulatory frameworks surrounding existing technology.
“AFC believes it’s important for regulators to understand the existing legal and regulatory landscape and how it applies to AI technology before pursuing any additional or new requirements,” Moloney told American Banker.
As the
Moloney told American Banker that there is a potential for “regulatory diffusion” should state-level AI regulation see success.
“There is a need to move the AI conversation to the federal level where, given the lack of geographic limitations associated with the use cases and the technology at large, the federal government has the best jurisdiction and the best opportunity to ensure that there’s a harmonized AI approach to legislation and regulation,” he said.
“Responsible fintech companies and innovative banks increasingly rely on AI to deliver safe, modern services, from expanding access to credit to servicing historically underserved communities,” said Ashley Urisman, director of state government affairs at AFC. “This legislation ensures regulators fully understand these technologies so they can protect consumers and encourage fair competition among companies leveraging AI.”
A different
Experts say that SB 69 may see success where other bills have failed. Devika Kornbacher, co-chair of the global tech group at multinational law firm Clifford Chance, told American Banker that SB 69 is employing a different tactic than the vetoed SB 1047 from last year.
“SB 1047 focused on regulating frontier (or the most powerful) AI models and, among other things, fed the debate on whether development of AI should be regulated at all,” Kornbacher said. “SB 69 focuses on building out AI expertise among the regulators and in California more broadly. Of course, that expertise could lead to a regulator deciding that frontier AI models should have more scrutiny, but the bill doesn’t take a particular stance on what should be regulated, just how the regulators should be prepared.”
“As far as the outcome of this bill, AI literacy is a commonly understood and supported concept and SB 69 seems to be framed broadly enough to avoid a veto,” she continued. “The current political environment is not one where I would place a bet on any outcome, [but] perhaps SB 69 will be seen as less controversial and be signed into law.”
Tools & Platforms
Globevisa CEO Unveils its AI Strategy, Transforming Traditional Services Into a Tech-Driven Powerhouse
— In a decisive move set to redefine the future of service industries, Globevisa Group CEO and co-founder Henry Fan has launched a groundbreaking artificial intelligence (AI) transformation strategy that embeds AI at the core of the company’s operations. This bold initiative is not only improving efficiency and customer service but also positioning Globevisa as a global innovator in tech-driven business leadership.
Rather than relegating AI to a standalone IT function, Henry established an in-house AI Empowerment Center—a “special forces” unit that reports directly to him. This reflects his belief that AI is a business-wide opportunity, not a departmental add-on. As the architect of this transformation, Henry serves as strategist, change agent, and internal evangelist, overseeing a company-wide shift in how AI is deployed, adopted, and embraced.
The Strategist: Defining a Clear Vision for AI
Henry’s leadership begins with a clear vision for an “AI-driven Globevisa,” which he positions as the company’s North Star. This vision guides every decision, from budget allocation to the selection of core technologies. Henry ensures that AI efforts are tightly aligned with Globevisa’s business objectives, such as revenue growth, operational efficiency, and brand enhancement.
His approach is pragmatic and phased, focusing on high-value pilot projects before scaling up. He champions a “showcase to full coverage” strategy, quickly demonstrating tangible results in areas like marketing, customer service, and human resources. By tying AI initiatives directly to measurable business outcomes, such as reducing document processing times, increasing content production efficiency, or improving sales conversion rates, Henry ensures that Globevisa’s AI efforts are not just theoretical but practical and impactful.
Tackling Operational Inefficiencies with AI
Henry’s journey into AI began with a recognition of inefficiencies in the company’s internal processes, which were bogged down by repetitive, manual tasks. He saw AI not as a buzzword but as a tool to address these core operational challenges.
1.Document Processing
Globevisa’s success involves processing countless client documents, such as bank statements and passports, a task prone to human error and delays. To combat this, Henry spearheaded the development of an AI document extraction and auditing tool. This technology scans documents, extracts key information, and cross-checks it against system requirements, significantly reducing manual review time and errors. The result is faster, more accurate processing, enabling the team to handle a higher volume of clients.
2.Customer Service
Globevisa’s customer service team was overwhelmed by repetitive inquiries, leaving little time for complex, high-value interactions. Henry’s team introduced a 24/7 AI-powered chatbot capable of handling up to 80% of standard queries. This freed human staff to focus on nuanced, emotional, and complex client concerns, enhancing overall customer satisfaction.
3.Marketing Content Creation
The process of generating marketing content was slow and often lacked variety. Henry addressed this by deploying an “AI Content Factory” that generates blog posts, social media updates, and ad copy from simple keywords. This tool dramatically increased content production efficiency while reducing costs, ensuring Globevisa remains competitive in its digital marketing efforts.
The Breaker of Barriers: Overcoming Organizational Challenges
While implementing AI solutions, Henry quickly realized that the biggest obstacles were not technological but organizational and cultural. Resistance to change, data silos, and fears of job displacement were among the challenges he faced.
1.Breaking Data Silos
With 110,000 successful cases in hand, Globevisa sits on a treasury of data. However, many departments at Globevisa operated in isolation, hoarding data and refusing to share it. For instance, the AI team often needed years of sales data to train models, but obtaining access required navigating internal politics. Henry personally stepped in as a “Breaker of Barriers,” reframing data-sharing as an investment in the company’s future rather than a threat. He emphasized that AI would provide departments with sharper tools to achieve their goals, fostering a spirit of collaboration.
2.Addressing Job Displacement Fears
Employees, particularly senior staff such as copywriters, were initially hostile toward AI, viewing it as a potential replacement for their roles. Henry tackled this by redefining their positions and elevating their value. He assured employees that AI would handle 80% of mundane tasks, allowing them to focus on the remaining 20% of creative, high-value work. Copywriters, for example, were rebranded as “AI Creative Strategists” and “Final Quality Controllers,” responsible for refining and overseeing AI-generated drafts. This reframing not only eased fears but also inspired employees to embrace AI as a tool for professional growth.
3.Adjusting KPIs to Reward Adoption
In traditional service industries, departments often cling to outdated KPIs, which can hinder the adoption of new technologies. Henry addressed this head-on by personally revising performance metrics for teams involved in AI pilots. For example, customer service teams previously measured on “calls handled per hour” were now evaluated on metrics like “complex problem-solving rates” and “customer satisfaction scores.” This ensured that employees were rewarded for adopting new behaviors, not for sticking to inefficient practices.
The Chief Evangelist: Fostering a Culture of Innovation
Henry understands that technology alone cannot drive change; it requires a cultural shift. As Globevisa’s “Chief Evangelist,” he regularly communicates the importance of AI initiatives through all-hands meetings, internal newsletters, and personal demonstrations. By openly using AI tools, such as leveraging AI for meeting summaries, he leads by example, fostering a company-wide culture of innovation.
His leadership style is characterized by inclusivity and transparency. Instead of imposing top-down mandates, he actively involves employees in the transformation process, ensuring that AI is seen not as a threat but as an enabler. This human-centric approach has been instrumental in building trust and enthusiasm for AI across the organization.
A Model for the Future of Services
Henry’s approach provides a replicable roadmap for other service-based companies navigating digital transformation. His model centers on measurable value, cultural readiness, and human-AI collaboration, proving that even traditional industries can lead in a tech-first economy.
About Globevisa
Globevisa Group is a global leader in immigration and relocation services, with over 110,000 successful cases worldwide. Committed to service excellence and innovation, the company helps individuals and families navigate complex immigration processes with confidence.
Contact Info:
Name: Lena Huang
Email: Send Email
Organization: GLOBEVISA GROUP (HONG KONG) LIMITED
Website: https://www.globevisa.com/
Release ID: 89168612
In case of identifying any errors, concerns, or inconsistencies within the content shared in this press release that necessitate action or if you require assistance with a press release takedown, we strongly urge you to notify us promptly by contacting error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our expert team is committed to addressing your concerns within 8 hours by taking necessary actions diligently to rectify any identified issues or supporting you with the removal process. Delivering accurate and reliable information remains our top priority.
A high school in suburban Chicago was awarded a grant to implement AI-powered gun detection technology.
Oak Lawn Community High School District 229 was one of 50 recipients selected nationwide for the Omnilert Secure Schools Grant Program, the school said in a recent announcement.
The district was awarded a three-year license for Omnilert Gun Detect, an “advanced AI-powered gun detection technology” — at no cost.
The AI system identifies firearms “in real-time through existing security camera infrastructure,” the announcement said.
Once a potential threat is identified, the AI system activates a rapid response process by alerting school officials and law enforcement, ultimately ensuring that threats can be addressed “as quickly and effectively as possible,” the announcement said.
The implementation of the AI system aligns with District 229’s security strategy, that includes a combination of physical safety measures, emergency preparedness and mental health resources, the announcement said.
The school said staff training and safety drills will be done to ensure the technology is used effectively and responsibly.
usatoday.com wants to ensure the best experience for all of our readers, so we built our site to take advantage of the latest technology, making it faster and easier to use.
Unfortunately, your browser is not supported. Please download one of these browsers for the best experience on usatoday.com
-
Tools & Platforms3 weeks ago
Building Trust in Military AI Starts with Opening the Black Box – War on the Rocks
-
Ethics & Policy1 month agoSDAIA Supports Saudi Arabia’s Leadership in Shaping Global AI Ethics, Policy, and Research – وكالة الأنباء السعودية
-
Events & Conferences3 months agoJourney to 1000 models: Scaling Instagram’s recommendation system
-
Jobs & Careers2 months agoMumbai-based Perplexity Alternative Has 60k+ Users Without Funding
-
Business1 day agoThe Guardian view on Trump and the Fed: independence is no substitute for accountability | Editorial
-
Funding & Business2 months agoKayak and Expedia race to build AI travel agents that turn social posts into itineraries
-
Education2 months agoVEX Robotics launches AI-powered classroom robotics system
-
Podcasts & Talks2 months agoHappy 4th of July! 🎆 Made with Veo 3 in Gemini
-
Podcasts & Talks2 months agoOpenAI 🤝 @teamganassi
-
Jobs & Careers2 months agoAstrophel Aerospace Raises ₹6.84 Crore to Build Reusable Launch Vehicle