In August 2024, the European Union took a big step toward governing one of the most transformative technologies of our time by formally enacting the EU AI Act—the world’s first comprehensive regulatory framework for artificial intelligence. Now, as of Sunday, a critical deadline has passed, setting into motion provisions that are set to reshape how businesses develop and deploy AI.
AI has captivated industries, governments, and innovators alike, with its potential to unlock medical breakthroughs, transform public services, and drive economic growth. Yet, alongside the buzz, myths and misconceptions about how AI interacts with data protection laws continue to circulate, muddying the waters for businesses, developers, and individuals.
In a decision that demonstrates the deepening philosophical divide over regulation and the future of artificial intelligence (AI), President Donald Trump has overturned a key executive order issued by former President Joe Biden. The order, signed in 2023, sought to address AI risks head-on by mandating safety tests for high-risk AI systems before they hit the market.
The European Data Protection Board (EDPB) has weighed in on one of the most pressing issues of our time: how to ensure that AI technology respects privacy while driving innovation. In a newly adopted opinion, the EDPB tackled the thorny questions of when AI models can be considered anonymous, how “legitimate interest” fits into the equation, and what happens if an AI model is built on shaky—if not outright unlawful—data practices.
AI is reshaping Sweden’s financial industry at a breakneck pace. From streamlining operations to analyzing mountains of data, generative AI tools like ChatGPT, Copilot, and Gemini are becoming indispensable for firms looking to gain an edge. But while the technology is rapidly becoming a fixture, the frameworks to manage the risks it brings are lagging dangerously behind.
The Federal Trade Commission (FTC) is sending a strong message to Evolv Technologies and the broader artificial intelligence (AI) industry that if you’re going to promise product features powered by artificial intelligence, you’d better deliver. The agency has accused the Massachusetts-based company of making false claims about its AI-driven security scanners, which are widely used in schools, hospitals, and stadiums.
At the 27th Annual Symposium on Building the Financial System of the 21st Century, Federal Reserve Governor Michelle W. Bowman addressed the growing role of artificial intelligence (AI) in the financial sector. Speaking to an audience of industry professionals and regulators, Bowman emphasized the importance of striking a delicate balance between fostering innovation and ensuring the stability of the financial system.