- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2024-04-01T13:22:00
The world’s first major piece of legislation for regulating artificial intelligence (AI) moved another step forward.
On March 13, European Parliament approved the AI Act, which aims to regulate the technology based on its capacity to cause harm. The act follows a risk-based approach: the higher the risk, the stricter the rules.
The legislation—which aims to ensure “trustworthy” AI—provides developers and users with clear requirements and obligations regarding specific uses of the technology.
The rules are meant to increase transparency about the way AI is used, when it is used, what data the technology uses to produce results and make decisions, and to prevent harmful outcomes.
There are four risk categories.
2024-10-17T16:22:00Z By Neil Hodge
Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
2024-04-18T20:42:00Z By Kyle Brasseur
With senior-level decisions on technology only increasing in frequency as new tools rapidly evolve, a panel at Compliance Week’s 2024 National Conference agreed compliance must consider the opportunities available to influence those conversations.
2024-04-03T18:23:00Z By Adrianne Appel
If there was one takeaway Diana Kelley offered during her keynote address at Compliance Week’s 2024 National Conference, it was that artificial intelligence tools—especially generative AI—need compliance.
2025-07-03T15:51:00Z By Ruth Prickett
The EU’s new strategy aims to boost SME growth and cut market barriers, but businesses doubt reforms will happen, and consumer groups fear weaker data protections.
2025-06-26T20:22:00Z By Oscar Gonzalez
In another sign of President Donald Trump’s focus on cryptocurrency, the head of the U.S. Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to create proposals to consider crypto assets for a single-family home mortgage.
2025-06-24T17:21:00Z By Ruth Prickett
Four years after Brexit, the U.K. and EU announced a “reset” that will ease barriers to importing and exporting food, drink, and agricultural produce. It may also harmonize rules around carbon emissions trading systems, simplifying compliance for multinational organizations that are large emitters, and enable more young people to gain ...
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