Corporate Impact Analysis Object

Overview

Development stage

In development or acquisitionSource: a) Pre-deployment – The use case is in a development or acquisition status.

High-impact designation

Not high-impactSource: c) Not high-impact

Impact justification

Not reported

Start date

Not reported

Withheld from public reporting

NoSource: a) No

Mission

Topic area

Administrative Functions

Operational functions

Summarization Derived by keyword rules; see methodology

Problem the AI is intended to solve

The Office of Legislative Affairs is the Corporation’s congressional liaison that closely monitors and responds to legislation important to the FDIC. In doing so, the Office of Legislative Affairs is responsible for identifying legislation in a timely manner and working with the Legal Division to complete a legislative analysis summarizing the impact of the legislation relative to the FDIC, insured depository institutions, and consumers (at a minimum). The Corporate Impact Analysis Object use case will utilize previously generated legislative analysis for both recently introduced legislation in the last six years, as well as full public law analyses since 1993 to source draft impact statements of bills. The quicker turnaround of draft analyses will address the significant reduction in attorneys available to draft this work product.

Expected benefits

Currently, the Office of Legislative Affairs (OLA) spends time reviewing legislative analyses generated by the Legal Division. The AI solution is intended to enhance this process by decreasing both the time necessary to compile an initial review, as well as allowing for more focus to be placed on the fundamental impacts and thereby leading to productivity gains.

System outputs

The output of the system will generate a “Highlight Overview of the legislation to include the name of the sponsor and bill title; an overall Summary of the bill; a section on the potential impact to FDIC; a section on the potential impact to financial institutions; and a section on the potential impact to Consumers." Outputs will be used to brief OLA, Legal Division, and Office of the Chairman (as well as other D/Os) on the impact the legislation will have on the Corporation, insured depository institutions, consumers, etc.

Technology

AI classification

Generative AISource: Generative AI: AI that generates new or synthetic content (e.g., images, videos, audio, text, code).

System name(s)

Not reported

Custom-developed code

Not reported

Public source code

Not reported

Sourcing

How it was built

Not reported

Vendor (as reported)

Not reported

Vendors (standardized)

None on the standard list

A vendor is the supplier named by the agency. It does not identify the underlying model or AI technology.

Data and privacy

Involves PII

Not reported

Privacy Impact Assessment

Not reported

Authorization to Operate

Not reported

Demographic features

Not reported

Training and evaluation data

Not reported

Federal Data Catalog

Not reported

Governance

0 of 8 minimum-practice questions answered. A blank answer means the agency reported nothing; it does not mean the practice is absent.

Potential impacts and how they were identified

Not reported