Danielle Mccoy

Senior Vice President, General Counsel & Corporate Secretary, FEDERAL NATIONAL MORTGA ASSN

Governance, Ethics, and Safety: Delivering the Promise of AI with Danielle McCoy

🎥 Feb 24, 2025 📺 Fannie Mae ⏱ 0m 👁 62 views

AI can be used to advance housing finance, but how do we navigate the risk? Danielle McCoy, SVP, General Counsel, Corporate ...

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About Danielle Mccoy

Danielle McCoy, Senior Vice President, General Counsel & Corporate Secretary at Fannie Mae, discussed the risks and governance of artificial intelligence in a March 2025 appearance. She stated that AI and generative AI pose legal risks such as privacy, bias, and intellectual property concerns, as well as risks like hallucination and misuse by bad actors for fraud or deepfakes that harm cybersecurity. McCoy emphasized the need to create governance structures around AI and, more importantly, to establish a culture for employees using the technology. McCoy noted that one of the first steps her organization took was to develop ethical principles for AI use. She said these principles incorporate regulations and best practices to guide employee behavior with AI.

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Transcript (1 segments)

Danielle Mccoy0:00

AI and especially generative AI poses a lot of risk. Some of those risks are legal risk such as privacy or bias, intellectual property. Some of those risks are things like hallucination, and we've seen bad actors already use these things for fraud or to create deep fakes which hurt cyber security. You have to create a lot of governance structures around AI. More importantly though, you need to create a culture for the people that are using it in the company. So one of the first things we did was to develop ethical principles, and these ethical principles incorporate things from regulations but also best practices on how we expect our employees to use AI.