Economist Impact’s Post

🌍 The EU's landmark AI Act has just passed through parliament! 🌐 This game-changing regulation is set to reshape the future of AI in financial services, making Europe a global leader in AI governance. As AI rapidly integrates into the finance world, experts predict the biggest impacts will be seen in generative AI development. Still, financial services will also need to adapt to the new rules. 👉 Explore more on how AI is transforming finance! https://lnkd.in/dqp42yBu #AIRegulation #FinancialServices #EUAIAct #AIInnovation #FutureOfFinance #GenerativeAI #TechRegulation #FinanceRevolution

Once again, I've delved into the wonderful world of responsible AI. It's a report for IQPC's 2nd Annual Responsible AI Summit and this time, I've written about keeping up with the ever-evolving regulatory landscape across different global markets. The EU continues to have a huge influence, so even if you're not in the EU, you'll probably have to comply with EU regulations to be able to trade with the bloc. #AI #ResponsibleAI #regulations Here's the link for a free download: https://lnkd.in/dpQPDKu6

There's just one week left to register for Saifr's next webinar, "AI regulations are coming. Are you prepared?" Head of Compliance, Allison Lagosh, will be joined by Jasmin Sethi and Mark Roszak for a discussion on the latest AI regulations coming out of the EU, their potential impact in the U.S., and what institutions can do to prepare. Register now: https://hubs.li/Q02G_1Q50 #AI #FinTech #BuiltInLabs

We're thrilled to share an insightful article featured in OneTrust DataGuidance on the international trends in AI governance by Preeta Bhagattjee, Director and Head of the Technology & Innovation practice. In this article, Preeta explores the latest developments in AI regulation and the various approaches taken by countries leading AI innovation. Discover the market-driven approach adopted by the US and the UK, as well as the consumer protection-driven strategy of the EU. 🤝 Gain valuable insights into the legal and ethical implications of AI systems and the critical need for responsible governance. Read more here https://lnkd.in/dY5DMSgZ #AI #GovernanceTrends #LegalTech #Innovation #DataProtection #WerksmansAttorneys #AIRegulation #ThoughtLeadership #LegalNews #AIInnovation #EthicalAI #DigitalTransformation #TechLaw

Insightfully, as always, from The Global Disinformation Index 🚨Trust in Isolation: the Real Threat of Generative AI ”We are now in the third phase of this digital disruption. … In this phase, “trust” is more a matter of what content adheres to personal biases rather than objective facts, concrete evidence or journalistic standards. The information ecosystem has become so polluted and polarised that faith in mainstream media, major institutions and scientific consensus has significantly declined. While most people across the political spectrum believe that digital disinformation is a problem, they also believe that they would personally not fall victim to it - despite studies proving otherwise. … The real danger of generative AI is that it could mark a huge departure from our current information ecosystem by removing a critical component - the human feedback loop.” Read the full text here: https://lnkd.in/d89NC5Hk

𝐌𝐞𝐚𝐬𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐎𝐩𝐞𝐧𝐧𝐞𝐬𝐬 𝐨𝐟 𝐀𝐈 𝐅𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧 𝐌𝐨𝐝𝐞𝐥𝐬 Openness significantly influences innovation and competition. Current AI models vary widely in openness. Some of the policy recommendations: ⚖️ Implement legal exemptions and economic measures for open-source models. 🔍 Promote transparency and interoperability standards. 🛠️ Provide technical support and open data repositories to reduce development barriers. More here ➡️ https://lnkd.in/gdaFR_zG #AI #FoundationModels #GenerativeAI #Innovation #Policy #Competition

The European Union (EU) has been at the forefront of regulating emerging technologies to ensure their ethical and safe deployment. In this context, the Artificial Intelligence Act (AI Act) stands as a landmark legislative effort aimed at shaping the future of AI within the EU. This blog will discuss the key aspects of the AI Act, its implications for various stakeholders, and the opportunities it presents for businesses and innovators. Read more here: https://lnkd.in/emmKTXJ2

If you are interested in a review of macroeconomic impacts of AI and current AI regulations, check our paper (with Andrea Manera) just out for International Monetary Fund working paper series #ArtificialIntelligence #EUAIAct #AIregulation #AI https://lnkd.in/eHbQc-E4

Is your financial institution ready to harness the full potential of Generative AI, while avoiding the common pitfalls? 🔍 As the financial sector increasingly adopts Generative AI, evaluating the right solution has never been more critical. A recent Accenture report revealed that 65% of banking leaders see AI as essential to their strategy, yet many struggle with the risks and challenges it presents. interface.ai’s latest blog dives deep into the key questions you need to ask when evaluating Generative AI solutions for financial services. From data quality to security, we cover it all. Learn about the critical aspects of Generative AI evaluation, including: - Ensuring data quality and avoiding common pitfalls. - Understanding the security and ethical implications. - Evaluating the adaptability of AI solutions to meet your institution's specific needs. Read our full blog in the top comment to arm yourself with the knowledge you need. #GenerativeAI #FinancialServices #AIEvaluation #BankingInnovation #Fintech

Have you saved your (virtual) seat for Saifr's next webinar? Don't miss out on discovering what your firm can do to prepare for the implications of AI regulations recently passed in the EU. Click here to register ➡️https://hubs.li/Q02DMBpf0 #AI #FinTech #BuiltInLabs