AI & Partners

🌍 What are the current trends in the adoption of #AI in finance? 📢 Exciting insights from the recent OECD - OCDE-Financial Stability Board (FSB) Roundtable on #AI in Finance! 🌍 🤖The roundtable, held on September 30, explored the rapid adoption of #AI in finance—especially in banking, insurance, and asset management. Key takeaways: Predictive #AI, including #ML and Generative AI (#GenAI), is transforming financial crime detection, underwriting, and portfolio management.🤖 #GenAI is mainly being used internally for tasks like summarization, information retrieval, and code generation.🤖 Key challenges include data governance, model risk, and maintaining ethical standards.🤖 🌟 The EU #AI Act is crucial here. It aligns with the roundtable's call for a risk-based approach and international collaboration to ensure responsible #AI use in finance. 📊 🌐How does the EU #AI Act apply? DM or email the team for more details: contact@ai-and-partners.com. #AIinFinance #OECD #FSB #EUAIAct #ResponsibleAI #FinancialServices

🌍 #AI and #Cybersecurity: Is it a tool or a weapon?🌱 🔒 This European #CybersecurityMonth, the team at AI & Partners delve into the dual nature of #AI in #cybersecurity. #AI tools are revolutionizing how we protect our digital spaces, but they also present new challenges. Here are four positives and four challenges to consider: 👆Positives: 1. Enhanced Threat Detection: #AI swiftly analyses vast data to spot potential breaches, enabling quicker responses and reducing damage. 👆 2. Automated Response: #AI can autonomously block threats, allowing cybersecurity teams to focus on complex issues. 👆 3. Predictive Analysis: #AI anticipates threats, helping organizations bolster defences proactively. 👆 4. Improved Accuracy and Efficiency: #AI systems maintain high accuracy, crucial for minimizing vulnerabilities. 👆 👇Challenges: 1. Vulnerability to Manipulation: #AI systems can be manipulated through data poisoning and adversarial attacks, necessitating robust security measures. The EU #AI Act mandates that high-risk #AI systems undergo rigorous testing to mitigate such vulnerabilities. 👇 2. Ensuring Robustness and Resilience: Continuous monitoring is essential to maintain system integrity against unauthorized alterations. The EU #AI Act emphasizes the need for comprehensive risk assessments to ensure systems remain resilient against threats. 👇 3. Balancing Transparency and Security: Providing enough transparency without exposing systems to risks is a delicate balance. The EU #AI Act promotes transparency in #AI operations while ensuring that sensitive data is protected. 👇 4. Continuous Learning and Feedback Loops: Ongoing assessments are needed to prevent biased outputs and new vulnerabilities. The EU #AI Act encourages continuous monitoring and updates of #AI systems to enhance their performance and security. 👇 As we navigate these complexities, it's crucial to harness #AI's potential while addressing its challenges. Together, we can ensure that the deployment of #AI in cybersecurity is both innovative and secure, in line with the EU #AI Act's principles. #CybersecurityMonth #AI #Cybersecurity 🔐

🌍 Are you at the World Summit AI 2024 today?🌱 AI & Partners and Wipro are here to facilitate discussions on key #AI developments, including the EU #AI Act. Don’t miss the opportunity to engage with experts driving the future of #AI governance. 💬 Want to chat? Connect with Sean Musch, Daniel Flynn, and Michael Charles Borrelli from AI & Partners and Jorn Fokkens, Anurag Nautiyal, and Malay Srivastava from Wipro for insights. 🍸 Also, join us at the post-event networking party from 6pm onwards. Let’s continue the conversation! https://lnkd.in/dM8jW3hQ #WorldSummitAI #AIRegulation #EUIAAct #Networking #AIGovernance

🚀 EU vs. US: Who will win the EU #AI Act compliance race? 🚀 🚀 The Race for Compliance Has Begun! With the European Union’s #AI Act now in effect since August 1, 2024, the race to achieve compliance has officially started. Companies across the US and EU need to gear up to meet the Act’s requirements, including implementing robust risk management, governance, and compliance processes. The transition period offers some leeway, but it’s crucial to get ahead now. 🔍 Inferences Drive Future Outcomes 🔍 Drawing insights from a recent study on GDPR compliance, sponsored by McDermott Will & Emery, reveals key lessons for navigating the EU #AI Act. The study, covering over 1,000 companies in both the US and EU, highlights a significant benchmark: 90% of respondents are aware of their GDPR obligations, while 10% are uncertain. This presents a valuable comparison point for understanding and preparing for #AI compliance. ⚠️ Difficulties Faced with Compliance ⚠️ The report suggests that many companies may struggle to meet the August 2026 deadline or may not be fully aware of their compliance status. With 40% of respondents likely to achieve compliance only after the deadline and 8% uncertain of their compliance timing, the path to meeting the EU #AI Act’s requirements is challenging. 🙏 Huge thanks to our invaluable corporate partners for their contributions! Dan Feaheny, JC Legal, The Rialto Consultancy, Cyber Security Unity (formerly the UK Cyber Security Association - UKCSA), Sumsub, #ActuateNowLTD, Hybridge Consulting, Data Privacy and AI, Empasco Consulting, #SavionRay, Loeb Smith Attorneys, #KarushkovLegalSolution, and 5Tech Lab. 🙏 Massive gratitude to our invaluable individual partners for their support! Doug Hohulin, Lisa Ventura MBE, Silvia A. Meyer, Bisera Savoska, Ilesh Dattani, Fanni Kadocsa, Ina Schöne, Michael Boevink 布 纷 奇 , 마이클 보빈크, مايكل بوفينك, Mitko Karushkov, and Robert Farrell. 📄 Whitepaper: https://lnkd.in/d_Zzd87e 📊 Presentation: https://lnkd.in/dqfjP8We Stay informed and proactive to navigate these complexities and ensure your organization is prepared for the evolving regulatory landscape. 🌐🔐 #AIAct #Compliance #EURegulations #GDPR #RiskManagement 

What role does the #AI Office play in supervising #GPAI Models? Thrilled to continue our insightful series on the EU #AI Act! 🚀 This week, Dr. Benedikt Kohn, Taylor Wessing, Sean Musch, AI & Partners, and Michael Charles Borrelli, AI & Partners, delve into the critical role of the #AI Office in supervising #GPAI models. The #AI Office is tasked with ensuring that these models adhere to the stringent standards set forth by the EU #AI Act, promoting safe and ethical #AI use. This oversight is essential for maintaining trust and reliability in #AI technologies across diverse applications. 👩💼 At AI & Partners, we are committed to supporting professionals in understanding and complying with these supervisory requirements to foster a trustworthy AI ecosystem. 💼 Want to read more? Access the article at > https://lnkd.in/diZFuUda 💬 #EUAIACT #AICompliance #AIModels #ExpertInsights

🔍 What were the key takeaways from the Code of Practice's (#CoP) kick-off plenary? 🌍 On September 30, 2024, experts from across industry, academia, civil society, and other sectors gathered for the #CoP Kick-off Plenary. Here's what businesses need to know: 🔹 First Comprehensive #AI #CoP: This initiative, led by the European #AI Office, aims to create a detailed #CoP for general-purpose #AI models, ensuring compliance with the transparency, copyright, and risk mitigation requirements outlined by the EU #AI Act. 🔹 Multi-Stakeholder Approach: With ~1000 stakeholders involved, including #AI model developers and civil society, the #CoP will be developed collaboratively through four working groups focusing on transparency, risk assessment, technical risk mitigation, and internal governance. 🔹 Timeline & Next Steps: The draft #CoP will be developed from now until May 2025, with workshops and working groups convening starting November 2024. 📅 💡 Why It Matters: The #CoP will ensure a robust framework for managing systemic risks, transparency, and governance in general-purpose #AI models—crucial for fostering a trustworthy #AI ecosystem in line with the EU #AI Act. 🛡️ Want to know more? Get involved as we shape the future of responsible #AI together! 🤝 #ResponsibleAI #AIRegulation #EUAIAct #GeneralPurposeAI #AI

🔍 How does the EU #AI Act deliver #AI for Social Outcomes? Our latest report "#AI for Social Outcomes" explores how the EU #AI Act supports trustworthy #AI ecosystems for social advancement. 🤖 Key takeaways: 1️⃣ #AI has the potential to address critical global challenges, but responsible deployment is essential to avoid risks. 2️⃣ Facilitators play a crucial role in connecting tech organizations with communities, ensuring #AI initiatives are inclusive and impactful. 3️⃣ The EU #AI Act provides a regulatory framework that emphasizes human rights, transparency, and fairness to guide #AI development for societal benefit. 💡Access the report here > https://lnkd.in/da4uF2sr Together, we can harness the power of #AI to make a positive global impact! 🌟 #EUAIAct #TrustworthyAI #SocialImpact #AIForGood

🔍 Regulatory Initiatives Grid (#RIG) – European Union #AI Act 🤖 The fourth edition of the #RIG is here, spotlighting initiatives tied to the EU #AI Act and related legal frameworks. 🇪🇺 With the EU #AI Act having entered into force on 1st August 2024, numerous initiatives have now been set-in motion, such as the official sign off of the #AI Act. Suffice to say, it's a transformation moment in regulatory history. Key highlights: 📈 The Grid encompasses initiatives led by various organizations, including the European Commission, European Parliament, Council of the European Union, and national standards bodies, such as the BSI, VDE, ISO - International Organization for Standardization, and IEEE. 🔍 It covers not only the EU #AI Act but also interrelated legal efforts like civil liability frameworks and sectoral safety legislation, including the newly revised #AI Liability Directive. 📊 The third edition allows firms to benchmark progress and navigate evolving regulatory landscapes effectively. Vital considerations for firms: 🔑 Understanding the implications of the EU #AI Act and associated regulations. 💼 Staying updated on sector-specific safety legislation and civil liability frameworks. 🤝 Collaborating with relevant stakeholders to ensure compliance and trustworthy #AI practices. Ready to dive deeper? 🚀 Explore the contents of the Regulatory Initiatives Grid to stay ahead in the evolving #AI regulatory landscape. 🌐 Access the #RIG here > https://lnkd.in/dhjzFZfk #AIRegulation #EUAIAct #ComplianceJourney #TrustworthyAI #RIG 🌐

🔍 How does the United Nations’ Global Digital Compact (#GDC) shape #AI’s future? 🌍 At the Summit of the Future, the United Nations adopted the #GDC, paving the way for a secure, sustainable, and inclusive digital future for all. 🚀🤝 The EU played a key role in shaping this ambitious compact, which promotes human rights, bridges digital divides, and upholds multi-stakeholder internet governance. Key initiatives include: 🔹 Establishing an International Scientific Panel on #AI to advance scientific understanding. 🔹 Launching a Global Dialogue on #AI Governance. 🔹 Connecting 2.6 billion people to the Internet by 2030. 🔹 Implementing safeguards to protect human rights from emerging technologies. 🔹 Countering misinformation with science-based information. Together, we're building a digital future that benefits everyone. 🌐✨ 🌐Read more at > https://lnkd.in/enVeq2gw #Digital #AI #misinformation #humanrights #AIGovernane

🚀 Will you join AI & Partners at Techex Expo Europe 2024? 📍 Stand #248, RAI Amsterdam, Today! Curious about the EU #AI Act and how it impacts your business? 🤔 We're here to broaden your understanding and discuss our practical solutions for implementation. Whether you're at the start of your compliance journey or looking to refine your strategy, let's connect! 💡 Stop by and see how we can support your responsible #AI initiatives. 🤝 Thanks to the following team members: Sean Musch Michael Charles Borrelli Daniel Flynn Thanks to the following guests: Jorn Fokkens, Wipro Surinder Lall Thanks to the following people for helping arrange/support this: Erik Werkman, CMS UK Maria Moreno, CMS UK Charles Kerrigan, CMS UK Charlie Herne, TechEx Events Lilyanna Deyn, TechEx Events #EUAIACT #AICompliance #RAIAmsterdam