Lawmakers are pushing for new bipartisan legislation, including the AI Research, Innovation, and Accountability Act and the Content Origin Protection and Integrity from Edited and Deepfaked Media Act, to hold AI companies accountable for misuse of their technologies while addressing civil rights and transparency concerns amidst a fragmented regulatory landscape.
The Australian Securities and Investments Commission (ASIC) has released REP 798, urging financial services businesses to update their risk and compliance frameworks to address governance challenges and mitigate consumer harm as AI adoption accelerates among Australian Financial Services licensees.
The UK Government is set to introduce a UK AI Bill aimed at fostering innovation and addressing risks associated with frontier AI, while maintaining continuity with previous policies and aligning with international standards.
The incoming Trump administration plans to reshape AI regulation in the US through a deregulatory framework focused on national security, particularly regarding China, while advancing legislation that prioritizes innovation and economic growth, potentially impacting existing safety measures and ethical considerations in AI development.
The OECD emphasizes the need for robust regulatory frameworks prioritizing transparency, accountability, and inclusiveness in AI practices, while addressing policy concerns related to data protection, privacy, and the risks associated with generative AI across various jurisdictions, including initiatives from the EU, UK, Brazil, and Australia.
The Consumer Financial Protection Bureau (CFPB) issued a circular on October 24, 2024, clarifying that the Fair Credit Reporting Act (FCRA) applies to workplace tracking practices involving artificial intelligence, emphasizing compliance obligations for employers and technology providers regarding employee monitoring and data usage.
