AI

  “Historic!” trumpeted Thierry Breton, the European Commissioner for Internal Market, in a statement extolling new comprehensive regulations over artificial intelligence (AI) that in his words would make Europe “the first continent to set clear rules” for the technology. The assumption is that the European Union, having approved the rules in December, is blazing a trail […]

Fifteen years of stringent regulatory requirements and gloomy macroeconomic conditions have taken a toll on bank profitability, especially in Europe. But lately, a new wave of optimism is spreading over the global banking sector. At first glance, bankers have at least one good reason to be cheerful again. Since July 2022, the European Central Bank lifted interest […]

Artificial intelligence is set to reshape human life and social interactions. A critical question is whether these changes will occur gradually, or if we will encounter a transformative tipping point – potentially, one coming very soon. Geoffrey Hinton, a world leader in AI development and the technologies behind ChatGPT, recently quit his post at Google. He […]

The EU’s latest AI draft legislation risks stifling innovation in Europe and opens the door to misuse by governments. The European Parliament has recently endorsed preliminary legislation referred to as the AI Act, geared toward the regulation of artificial intelligence. Much like the financial industry’s regulations, this legislation adopts a “risk-based approach.” This method prioritizes areas […]

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