Use cases for AI in Anti-Money Laundering (AML) efforts are clear, from reviewing due diligence documentation to writing suspicious activity reports, but banks and regulators are so far taking a slow path to adoption and adaptation. This article distills insights, which were delivered by compliance and law enforcement experts at the recent Artificial Intelligence Institute, hosted by the New York City Bar Association, on the benefits and drawbacks of AI as an enhancement to AML efforts and example use cases. See “Progress and Challenges in Implementation of Anti-Money Laundering Act of 2020” (Jun. 21, 2023).