- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-04-18T20:09:00
The European Union’s draft law to regulate artificial intelligence (AI) must be updated to include overarching controls on chatbots like ChatGPT, a group of European Parliament members wrote in an open letter shared Monday.
The European Union has been out front globally in its effort to regulate AI. It was expected the AI Act, which was proposed by the European Commission in 2021 and has been under debate since, would be voted on in the coming months.
But the act was written before the release of ChatGPT by OpenAI in November and other generative AI tools, which can masquerade as human intelligence and converse with adults and children.
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It is a good idea to regulate artificial intelligence programs like ChatGPT, the chief executive officer of the popular chatbot’s developer told lawmakers.
ChatGPT restored access for Italian users after changes to its privacy controls were welcomed by the country’s data protection authority.
Officials at four U.S. agencies warned they are prepared to act against bias or discrimination that involves artificial intelligence.
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
