How AI regulation is shaping up in the UK and Europe
18.07.2024 – Articles
And what to look out for in private capital markets
Given the pace at which AI is advancing, regulators around the world have their work cut out for them when it comes to ensuring this game-changing technology is used for good instead of bad.
Why AI needs regulating: Much of the excitement around AI comes from its potential to save vast amounts of time and strip out manual processes. But as much as AI can take on a lot of grunt work for ‘good activities’ (creating efficiencies in regulated companies), it can also amplify the work of criminals (think deep fakes and prolific levels of fraud).
The big picture: With such a powerful tool in so many hands, regulators need to act fast in an attempt to govern the direction of travel. However, regulating something so new – where we’re no way near understanding the full impact or use cases – and something that is advancing so quickly, is no mean feat.