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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2024-04-01T13:22:00
The world’s first major piece of legislation for regulating artificial intelligence (AI) moved another step forward.
On March 13, European Parliament approved the AI Act, which aims to regulate the technology based on its capacity to cause harm. The act follows a risk-based approach: the higher the risk, the stricter the rules.
The legislation—which aims to ensure “trustworthy” AI—provides developers and users with clear requirements and obligations regarding specific uses of the technology.
The rules are meant to increase transparency about the way AI is used, when it is used, what data the technology uses to produce results and make decisions, and to prevent harmful outcomes.
There are four risk categories.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
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2024-04-18T20:42:00Z By Kyle Brasseur
With senior-level decisions on technology only increasing in frequency as new tools rapidly evolve, a panel at Compliance Week’s 2024 National Conference agreed compliance must consider the opportunities available to influence those conversations.
2024-04-03T18:23:00Z By Adrianne Appel
If there was one takeaway Diana Kelley offered during her keynote address at Compliance Week’s 2024 National Conference, it was that artificial intelligence tools—especially generative AI—need compliance.
2024-03-29T13:41:00Z By Neil Hodge
The Irish Data Protection Commission has a new leadership structure, but it is uncertain whether the changes can get the key privacy regulator caught up on enforcement of the General Data Protection Regulation.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-06-28T19:55:00Z By Aaron Nicodemus
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
2024-06-28T17:00:00Z By Aaron Nicodemus
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
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