Today, the EU Artificial Intelligence Act (‘AI Act’) was signed into law. The AI Act will impose obligations on both private and public sector actors which provide, import, distribute, or deploy in-scope AI systems. It also contains obligations which apply in connection with general-purpose AI models. The AI Act has explicit extra-territorial effect, which means […]
AI
European Parliament Approves EU Artificial Intelligence Act
On March 13, 2024, the European Parliament approved the much-anticipated EU Artificial Intelligence Act (‘AI Act’). The AI Act is billed as the first comprehensive legal framework worldwide that specifically regulates AI systems. It will impose obligations on both private and public sector actors which develop, import, distribute, or use in-scope AI systems. Like the […]
NYDFS Releases Circular Letter on Use of AI in Insurance Underwriting and Pricing
On January 17, 2024, the New York State Department of Financial Services (“NYDFS”) issued a proposed circular letter for comment regarding the “Use of Artificial Intelligence Systems and External Consumer Data and Information Sources in Insurance Underwriting and Pricing” (the “Circular Letter”). The Circular Letter details NYDFS’ expectations and guidelines for the use of artificial […]
National Cyber Security Centre Forecasts Upcoming Cyber Threats with AI Use for Attacks
On January 24, 2024, the U.K.’s National Cyber Security Centre (NCSC) released a new report, The near-term impact of AI on the cyber threat, detailing how Artificial Intelligence (AI) will impact the effectiveness of cyber operations for 2025 and beyond. According to the report, threat actors are already using AI in cyber attacks and the […]
Companies Prepare for Change as EU Legislators Agree on EU Artificial Intelligence Act
On December 8, 2023, following marathon negotiations, European Union (‘EU’) legislators reached a political agreement on the much-anticipated EU Artificial Intelligence Act (‘AI Act’). The AI Act is billed as the first comprehensive legal framework on AI systems worldwide, and will impose obligations on both private and public sector actors which develop, import, distribute, or […]