The first wave of the EU AI Act’s requirements came into force on 2 February 2025, namely: Prohibited AI: the ban on the use and distribution of prohibited AI systems, and AI Literacy: the requirement to ensure staff using and operating AI possess sufficient AI literacy. All businesses caught by the EU AI Act’s jurisdictional [...]| Debevoise Data Blog
On October 16, 2024, the New York Department of Financial Services (the “NYDFS”) issued an Industry Letter providing guidance on assessing cybersecurity risks associated with the use of AI (the “Guidance”) under the existing 23 NYCRR Part 500 (“Part 500” or “Cybersecurity Regulation”) framework. The Guidance applies to entities that are covered by Part 500 [...]| Debevoise Data Blog
On July 11, 2024, the New York State Department of Financial Services (the “NYDFS”) adopted Insurance Circular Letter No. 7 regarding the Use of Artificial Intelligence Systems and External Consumer Data and Information Sources in Insurance Underwriting and Pricing (the “Final Circular”). The Final Circular largely adopts that language of the January 2024 Proposed Insurance [...]| Debevoise Data Blog
The EU AI Act (the “Act”) has made it through the EU’s legislative process and has passed into law today; it will come into effect on 2 August 2024. Most of the substantive requirements will come into force two years later, from 2 August 2026, with the main exception being “Prohibited” AI systems, which will be [...]| Debevoise Data Blog
These guidelines provide an overview of AI practices that are deemed unacceptable due to their potential risks to European values and fundamental rights.| Shaping Europe’s digital future