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Decoding the EU AI Act: What it Means for Financial Services Firms | Blog

Everest Group

However, this unprecedented growth has also raised concerns about the potential risks associated with the unchecked use of AI, prompting the need for regulations to ensure the responsible development and deployment of these powerful technologies.

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Preparing for the EU AI Act: Getting governance right

IBM Services

Similar to GDPR for privacy, the EU AI Act has potential to set the tone for upcoming AI regulations worldwide. The EU AI Act aims to meet the challenge to develop and deploy AI responsibly across industries including those that are highly regulated such as healthcare, finance and energy. million euros or 1.5%

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Why organizations need to adopt an Integrated Third-Party Governance and Risk Management approach?

SIG Speaks

SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Jai Chinnakonda shares why every organization should adopt integrated third-party risk governance and management into their team structure. A report from Deloitte titled 'Third-party governance and risk management.

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How to stay on the right side of the latest SEC cybersecurity disclosure rules for a data breach

IBM Services

In July 2023, the Securities and Exchange Commission (SEC) voted to adopt new cybersecurity rules and requirements for all market entities to address risks. Among the passed regulations were updated requirements for Form 8-K reporting as well as new guidance for Form 10-K Amendments. million, representing a 15.3% increase from 2020.

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Generative AI use cases for the enterprise

IBM Services

For example, organizations can use generative AI to: Quickly turn mountains of unstructured text into specific and usable document summaries, paving the way for more informed decision-making. Automate tedious, repetitive tasks. Teamwork: Assemble a team with expertise in AI, data science and your industry.

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Accelerate hybrid cloud transformation through IBM Cloud for Financial Service Validation Program

IBM Services

The cloud represents a strategic tool to enable digital transformation for financial institutions As the banking and other regulated industry continues to shift toward a digital-first approach, financial entities are eager to use the benefits of digital disruption. Most of these new technologies are born-in-cloud.

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AI-Powered Statutory Compliance Solution Revolutionizing the Relationship Between Government and Business

Paysquare

By implementing AI-powered tools like natural language processing and machine learning algorithms, compliance processes have become manageable, precise, and streamlined, and also save resources and time for both. It revolutionizes traditional processes by automating tasks and enhancing accuracy.