Good morning, Peter Vanham here, filling in for Alan.
For all the dire warnings on the dangers of A.I., there is remarkably little regulation underway in the U.S. The most notable initiative in the U.S. so far, the “A.I. Risk Management Framework 1.0” from the National Institute of Standards and Technology (NIST), only saw the light of day this January and to date remains “voluntary.”
The vacuum means the European Union may once again set the tone when its proposed A.I. Act is approved by parliament this spring. The legislation, in the works since 2021, is expected to be operational by the end of the year. Having the power of law, it will have direct implications for A.I. companies, which may need explicit “ex ante” approval to enter the market with “high-risk” A.I. applications or face outright bans.
