The EU AI Act is a pivotal regulation that will significantly influence how organizations manage and utilize AI systems, especially concerning third-party risks. Organizations must develop compliance plans and internal policies to navigate the complexities of this legislation effectively.
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 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.
On March 4, 2025, the Irish government approved a distributed model for implementing the EU Artificial Intelligence Act, designating eight public bodies as competent authorities. Minister Peter Burke emphasized the importance of building trust in AI systems to capture the significant economic and societal benefits they offer.
The European Union has released a new draft of rules for companies utilizing general-purpose AI models, highlighting ongoing significant concerns from critics regarding its implications for tech companies in Europe. The draft introduces various regulations aimed at ensuring ethics, safety, and transparency in the use of AI technology.
Meta Platforms Inc., Adobe Inc., and over 70 other publicly-traded US companies are warning that the EU’s Artificial Intelligence Act poses significant risks to their businesses due to compliance costs and potential legal liabilities. The act’s implementation may force companies to alter their product offerings in the EU while facing aggressive enforcement actions.
The European Union’s AI Act mandates that organizations ensure their workforce is sufficiently AI-literate, requiring tailored training programs for technical teams, non-technical staff, and leadership. This initiative not only aims for compliance but also presents an opportunity to foster a strong security culture and enhance organizational resilience in an AI-driven landscape.
The European Commission’s AI Office recently held a webinar to discuss the AI literacy requirement under the EU AI Act, which came into effect on February 2, 2025. The Act mandates that providers and deployers of AI systems ensure a sufficient level of AI literacy among their staff to effectively manage the opportunities and risks associated with AI.
The discussion raises questions about the necessity and effectiveness of the EU AI Act, suggesting that many of its provisions may be redundant or misdirected. Key points from a recent workshop highlight the challenges of defining AI and the potential for innovation to be stifled by overly stringent regulations.
Take the first steps in your transformation towards international AI compliance.
Our expert sales team is here to answer your questions, just leave your email and we’ll get in touch.
