One subject never fails to light up the eyes of senior bankers and regulators when they're questioned about their efforts to end the money laundering-related scandals that have spread across northern Europe over the last two years: technology. There can be no more damning indictment of the integrity of a bank, or its host nation, than the public revelation that a licensed institution is being used as a laundromat for ill-gotten gains. And what is more enlivening for money-laundering supervisors and bank-compliance officers than showing your firm and country is at the forefront of a technology that could make these troubles disappear? Some of the biggest actors in Europe's financial sector are converts. The UK's Financial Conduct Authority is particularly enthusiastic about using technology to fight money laundering.
Artificial Intelligence (AI) is developing fast. It will change our lives by improving healthcare (e.g. At the same time, AI entails a number of potential risks, such as opaque decision-making, gender-based or other kinds of discrimination, intrusion in our private lives or being used for criminal purposes. In order to foster an active dialogue between multiple stakeholders and set out policy options to tackle these challenges, the European Commission has just released a White Paper entitled "On Artificial Intelligence -A European approach to excellence and trust" which is available for download. Interested to learn more on the implications of AI for intellectual property and the themes relevant for legal practice in this field?
Artificial intelligence (AI) has become an area of strategic importance and a key driver of economic development. It can bring solutions to many societal challenges from treating diseases to minimising the environmental impact of farming. However, socio-economic, legal and ethical impacts have to be carefully addressed. It is essential to join forces in the European Union to stay at the forefront of this technological revolution, to ensure competitiveness and to shape the conditions for its development and use (ensuring respect of European values). The Commission is increasing its annual investments in AI by 70% under the research and innovation programme Horizon 2020.
Beyond Europe's AI Strategy: Global Governance for the Fourth Industrial Revolution Carolina Polito* On 19 February 2020, the European community welcomed the publication of three new documents that will drive the European Digital Agenda for the five years of the new von der Leyen's presidency. The documents are the European data strategy, the White Paper on Artificial Intelligence and the Report on Safety and Liability implications of AI, the Internet of Things and Robotics. Together, these documents offer a comprehensive overview of European priorities for the Fourth Industrial Revolution. The main objective underpinning the European data strategy, informed by the conviction that the value of data lies in its pooling and storage, is the creation of a single European data space in which information flows freely and safely. To accomplish this objective, the EU will establish mechanisms to improve how data is shared, including via common contractual obligations on presentation, so as to make it accessible across member states.
Currently, the European Union does not have any specific legislative instrument or standard to regulate the use and development of AI. However, these requirements are likely to set the stage for future legislation, similar in scope and effect as the General Data Protection Regulation (GDPR) for privacy, therefore indicating that the European Union may be on the cusp of providing for specific and unique AI regulatory legislation.
On February 19, 2020, the European Commission presented its White Paper on Artificial Intelligence – A European Approach to Excellence and Trust, a much-anticipated policy document setting out concrete measures and proposed regulation with the objective of promoting the development, uptake and use of AI applications, while also addressing the resulting fundamental rights challenges. The document has raised concerns among companies about whether new rules on AI will negatively impact businesses developing or deploying AI solutions across the EU. Feedback on the white paper can be provided until May 19, 2020. The white paper proposes a dual approach. It aims to establish an "ecosystem of excellence" on the one hand, and "an ecosystem of trust" on the other hand.
The Spanish government is planning to test 80,000 people a day for coronavirus with the roll-out of robot testers. Technology will be used to speed up testing of people in Spain, one of the countries hardest hit by the Covid-19 outbreak, with more than 200 deaths so far. According to Bloomberg, Spanish authorities now plan to increase daily testing from about 20,000 a day to 80,000, by using four robots to apply artificial intelligence (AI) to testing. Speaking at a conference on Saturday 21 March, Raquel Yotti, head of Madrid's health institute, said: "A plan to automate tests through robots has already been designed and Spain has committed to buying four robots that will allow us to execute 80,000 tests per day." Because of the ease that coronavirus spreads from person to person, testing has been identified as one of the best ways to control the disease.
In 2019, former German Defense Minister Karl-Theodor zu Guttenberg took on a senior leadership position in the artificial intelligence (AI) company Augustus Intelligence. Guttenberg previously urged Europe to take the lead in AI. We have alluded for quite some time to the possibility of Guttenberg leading a united Europe. His gained experience in the United States may further qualify him to lead Europe's digital transformation and more. Augustus Intelligence has recently been involved in a legal dispute with two fired managers, former sales director Marco Pacelli and consultant Ed Crump.
This study deals with the ethical implications and moral questions that arise from the development and implementation of artificial intelligence (AI) technologies. It also reviews the guidelines and frameworks that countries and regions around the world have created to address these. It presents a comparison between the current main frameworks and the main ethical issues, and highlights gaps around mechanisms of fair benefit sharing; assigning of responsibility; exploitation of workers; energy demands in the context of environmental and climate changes; and more complex and less certain implications of AI, such as those regarding human relationships.
Spain will unleash robots capable of testing 80,000 patients a day into the heart of its coronavirus fight. The Spanish government says it will deploy the machines that will increase testing from its current daily figure of between 15,000 and 20,000. Raquel Yotti, head of Madrid's Health Institute Carlos III, said the plans to deploy the robots are already under way. She spoke as Spain's death toll surpassed 1,300 and the number of cases reached nearly 25,000. She said at a conference: "A plan to automate tests through robots has been already designed, and Spain has committed to buying four robots that will allow us to execute 80,000 tests per day."