By David Stein ( August 9, 2018, 1:03 PM EDT) -- Artificial intelligence, or AI, has enormous potential to enable the financial services industry to make better decisions in lending-related activities. The U.S. Treasury Department's recent report on nonbank financials, fintech and innovation discussed the use of AI in financial services and identified certain legal challenges presented by AI and related technologies.[1] Recognizing the potential benefits of AI, the Treasury Department recommended that regulators "not impose unnecessary burdens or obstacles to the use of AI" and related machine learning technologies, but instead "provide greater regulatory clarity" to promote "further testing and responsible deployment of these technologies" by regulated financial services firms.[2]...