In this article: Singapore’s AI Model Risk Management Paper: Key Insights for Financial Institutions On 5 December 2024, the Monetary Authority of Singapore (“MAS”) released the Artificial Intelligence Model Risk Management Paper (“AI MRM Paper”), which may be accessed here. The paper outlines the best practices carried out by banks and offers guidance to financial institutions […]
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In this article: As 2025 approaches, the legal landscape for employer use of artificial intelligence (“A.I.”) is poised for further evolution. In 2024 alone, over 400 A.I.-related bills were introduced across 41 states—a substantial increase from prior years. While Congress has yet to take decisive action, the trends from 2024 suggest a continued rise in […]
In this article: Concerns Over EU AI Regulation: U.S. Homeland Security Chief Alejandro Mayorkas criticized Europe’s “adversarial” stance toward tech companies, claiming it hampers AI regulation efforts. Call for Harmonization: Mayorkas emphasized the need for U.S.-EU alignment, warning that fragmented governance creates vulnerabilities and complicates compliance for companies. Contrast in Approaches: The U.S. maintains more […]
In this article: Oliver Wannell looks back at the last 12 months in AI and Law February: Government response to White Paper of AI Regulation July: The King’s Speech July: Department for Science Innovation and Technology AI Action Plan July: Court of Appeal overturns High Court decision to determine that ANNs are not patentable September: […]
In this article: AI in Financial Services: AI has advanced from basic algorithmic trading and fraud detection to sophisticated tools like generative AI, transforming the financial sector. Generative AI Adoption: Tools like ChatGPT have seen increased use in the financial services sector, particularly among adults in the US. Regulatory Gaps: The lack of standardized AI […]
In this article: Proactive Governance: ChatGPT’s influence contributed to the EU’s shift from reactive to proactive AI governance, shaping a principled vision for AI development through the Artificial Intelligence Act (AIA). Focus of AIA: Professors from the University of Groningen highlight the AIA’s hybrid regulation, balancing AI safety and standardization with fundamental rights considerations. Enforcement […]
In this article: Congress urges industry-specific AI oversight in its first comprehensive framework, while Malaysia launches a National AI Office to steer its tech regulation ambitions. The U.K. joins the effort with proposed copyright reforms, aiming to balance innovation with creative industry protections. Click the link to read more details https://www.pymnts.com/artificial-intelligence-2/2024/ai-oversight-gets-targeted-push-in-us-malaysia-and-uk/
In this article: Affordable AI Hardware: Nvidia introduced a $249 version of its Jetson computer, priced at half its predecessor, to attract hobbyists and small companies. On-Device AI Computing: Jetson computers enable developers to run AI computations locally on robots, industrial automation, and other hardware without relying on remote data centers. Broader Accessibility: While Nvidia’s […]
In this article: Report Introduction: The House AI Task Force’s bipartisan report emphasizes sector-specific regulation and an incremental policy approach to AI governance. Purpose: The report offers best practices for deploying and governing AI systems and serves as future guidance for lawmakers dealing with AI regulation. Balancing Goals: Task Force Co-Chair Jay Obernolte highlighted the […]
In this article: Report Introduction: The House AI Task Force’s bipartisan report emphasizes sector-specific regulation and an incremental policy approach to AI governance. Purpose: The report offers best practices for deploying and governing AI systems and serves as future guidance for lawmakers dealing with AI regulation. Balancing Goals: Task Force Co-Chair Jay Obernolte highlighted the […]
