BABL AI Auditor Co-Authors Insightful Article on AI Regulations in Tagesspiegel Background

BABL AI is proud to announce that Dinah Rabe, a data scientist and AI auditor at BABL AI, has co-authored an insightful article with Kirsten Rulf, associate director and partner at the Boston Consulting Group, for Tagesspiegel Background. The article, published on July 11, 2024, offers a deep dive into the implications of New York’s AI law and its relevance to the upcoming implementation of the EU AI Act.

The article, titled “New York’s AI Law: A Real-World Laboratory for the EU AI Act,” explores the implications of New York’s AI law and its connection to the EU AI Act, which was published on July 12 and came into force on August 1, 2024.

Lessons from New York’s AI Law

The authors examine New York’s focus on high-risk AI applications in human resources. They note that during the first year of implementation, companies struggled to establish effective governance structures for AI audits.

According to Rabe and Rulf, these early challenges serve as a warning for EU companies. Proactive preparation and strong governance will be essential for compliance under the broader EU AI Act.

Governance and Talent Shortages

The article underscores a significant shortage of responsible AI talent. To succeed, companies must rely on interdisciplinary collaboration across compliance, IT governance, and data protection teams. This multidisciplinary approach is critical to ensuring effective risk management and quality control. By working across departments, organizations can strengthen their ability to meet regulatory demands.

Comparing New York and EU Regulations

Rabe and Rulf also compare the two frameworks. While New York’s law set an important precedent, the EU AI Act introduces even greater challenges in governance, strategy, and risk oversight. However, the transparency mandated by New York’s regulations has also produced unexpected benefits. Companies that complied with AI audit requirements saw improvements in their ability to recruit skilled workers, demonstrating that regulation can enhance competitiveness in the labor market.

Key Takeaway

The article emphasizes the urgency of preparing for EU AI Act compliance. Companies that start early and approach governance with robust, informed strategies will be best positioned to thrive in this evolving regulatory landscape. You can read the full article HERE.