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,” examines the lessons learned from the first year of New York’s AI law, which focuses on high-risk AI applications in human resources. With the EU AI Act set to be published on July 12 and coming into force on August 1, the insights from New York’s experience provide invaluable guidance for EU companies preparing for the much more comprehensive AI Act.
The article highlights the initial challenges faced by New York companies in establishing governance structures for AI audits, underscoring the importance of early preparation and proactive governance for EU companies. Rabe and Rulf discuss the significant shortage of responsible AI talent and the necessity for interdisciplinary collaboration across various company functions, including compliance, IT governance, and data protection. This multidisciplinary approach is crucial for effective risk and quality control.
The authors also compare the regulatory requirements of New York’s AI law with those of the EU AI Act, emphasizing that the EU’s legislation will pose even greater hurdles for companies, particularly in governance, strategy, and risk management. Interestingly, the article reveals that the transparency mandated by AI regulation in New York has had unexpected benefits, positively impacting the recruitment of skilled workers. This advantage highlights the potential for companies complying with AI regulations to attract top talent.
Their insights emphasize the urgency and necessity for robust, informed responses to these emerging technological influences.
You can read the full article HERE.
