- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The U.K. government is looking to increase its regulation of digital currencies, amid growing concerns that such virtual currencies are being used to enable money laundering, terrorist funding, and other criminal activity.
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Breaches of the EU’s GDPR can cost companies substantial sums and huge reputational damage. Now some are warning that the implementation of the EU’s AI Act will be just as far-reaching, and could potentially lead to similar numbers of cases.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
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