Organizations adapting to the evolving landscape of responsible AI must prioritize ethical principles and compliance measures to navigate the complex regulatory frameworks shaping their operations.
With the EU AI Act categorizing applications by risk, FinTech companies face increased pressure to comply, especially in high-risk domains such as human resources and consumer protection.
Achieving responsible AI requires cross-functional involvement; collaboration among security, compliance, legal, and governance teams is essential for establishing effective risk management and AI policies.
Instead of exhaustive conformity assessments for each AI initiative, organizations should implement practical processes within their governance frameworks to streamline compliance efforts.
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