The rollout of the EU AI Act presents significant challenges for companies operating within the EU, as they must establish robust risk management frameworks to comply with its regulations. This situation necessitates balancing innovation and compliance while navigating an increasingly complex global regulatory landscape.
This post discusses the essential steps for creating an AI Governance Policy that ensures responsible, ethical, and compliant use of AI within organizations. It emphasizes the importance of establishing clear objectives, a governance structure, and integrating robust oversight mechanisms to align with international standards.
With the introduction of the EU AI Act, financial organizations integrating artificial intelligence will face new compliance requirements that could result in significant penalties for non-compliance. The Act emphasizes the need for human oversight in automated decisions, pushing financial institutions to adapt their processes to ensure fairness and transparency in AI usage.
The UK Artificial Intelligence (Regulation) Bill has been relaunched in the House of Lords, aiming to establish a central AI Authority to oversee regulation and ensure safety, transparency, and fairness in AI use. Despite passing its first reading, the bill faces uncertainty regarding government backing and cross-party support in the House of Commons.
The EU AI Act is the world’s first regulation dedicated to artificial intelligence, establishing a structured framework to ensure the ethical use and innovation of AI technologies. It categorizes AI applications based on their risk levels and imposes compliance requirements to foster trust and protect fundamental rights.
The UK’s Financial Conduct Authority (FCA) is working to enhance the adoption of artificial intelligence (AI) in the banking sector by addressing regulatory hurdles that may be stifling innovation. In May, the FCA plans to host a roundtable discussion with industry professionals to explore ways to balance technological advancement with compliance.
The rise of artificial intelligence (AI) poses significant questions regarding its potential use in violating EU competition law, particularly in relation to anticompetitive agreements. This blog post examines how AI may facilitate both horizontal and vertical agreements that could undermine competition in the market.
The EU AI Act aims to establish a regulatory framework for artificial intelligence that balances public safety and innovation by banning high-risk AI systems while regulating others. As the Act takes effect, it raises questions about whether it will stifle or encourage technological advancements within the EU compared to the more permissive approach in the US.
The EU’s AI Act aims to establish a uniform legal framework for AI systems, promoting human-centric and trustworthy AI while ensuring protection of health, safety, and fundamental rights. As of February 2, 2025, the Act imposes obligations such as ensuring AI literacy and prohibits practices deemed unacceptable, with significant penalties for non-compliance.
The European Union has softened its regulatory stance on artificial intelligence with the release of a new draft for the ‘AI Act,’ which outlines obligations for general purpose AI providers. Meanwhile, South Korea is being urged to focus on fostering AI development rather than imposing strict regulations as it implements its own AI Basic Law.