Financial services firms have been leading the charge in the development of artificial intelligence systems to improve service, reduce costs, mitigate risks, and drive through efficiencies. Until now, AI systems have been largely developed in a legal and regulatory vacuum but the European AI Act, which will impact many UK firms in the same way as GDPR did, is set to change all that. New Link Consulting summarises here the key provisions of the Act and offers practical advice regarding what firms should be doing now to get ahead of the game.
