New AI Treaty signed in the UK

On 5^th September, Lord Chancellor Shabana Mahmood signed the new Council of Europe framework, committing the UK to collective action to manage AI products and protect the public from potential misuse.

The new framework will introduce three new safeguards to protect:

• Human rights, including appropriate data use, protection, and anti-discrimination measures;
• Democracy, including steps to prevent public institutions and processes being undermined;
• The rule of law, with signatory countries required to regulate AI-specific risks, protect citizens from potential harms and ensure AI is used safely.

Once the treaty is ratified and effective in the UK, existing laws and measures will be enhanced, which may have operational implications for financial institutions. Countries including the U.S and Australia are also being invited to sign the treaty.

✅ Join Us for an Exclusive Webinar on AI in Financial Crime and Fraud Prevention where an expert panel will discuss topics including best practices for implementing robust AI governance for transparency, accountability, and ethical use.

🗓️ 11th September 2024 at 1600 BST

➡️ Sign up here: https://events.teams.microsoft.com/event/8c032c1c-a612-47c0-9b7d-9ce15eb94d2c@3ae2349a-8045-4a10-abe1-f593d564945a