Tag: AI Regulation

The Financial Conduct Authority (FCA) has been actively working to promote safe and responsible AI adoption in the UK financial sector. Last year, it published its AI Update to encourage outcomes-focused AI models. To further this initiative, the FCA recently launched its AI Lab, a collaborative platform for firms, stakeholders, and regulators to discuss AI use cases, share insights, and foster innovation while ensuring compliance.

GlobalData has highlighted that adopting responsible AI practices can give businesses a significant competitive edge while also mitigating ethical and legal risks.

In a significant stride towards regulating artificial intelligence (AI), the European Parliament adopted the Artificial Intelligence Act in a bid to ensure safety and compliance.

A Japanese privacy watchdog has issued a warning to OpenAI over the collection of sensitive data without individuals' permission.