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August 1, 2024

TechInformed: EU AI Act comes into effect. What will be its global impact?

Commenting on the impact of the EU AI Act, Enveil CEO Ellison Anne Williams say she hopes the policy will set the stage for more global collaboration.

Excerpt:

The world’s first significant AI law, the EU’s AI Act (AIA), comes into force today after four years of deliberation.

The legislation, approved in March, not only influences businesses within the European Union but also has substantial ramifications for technology giants in the US and UK.

Similar to the GDPR, the AIA’s extraterritorial reach mandates compliance for any AI systems marketed or intended for use within the EU – no matter where it originates.

As companies worldwide come to terms with the new regulatory landscape, understanding the challenges and opportunities presented by the AIA will be crucial for future-proofing operations and maintaining competitive advantage. Dr. Ellison Anne Williams, founder and CEO of Enveil, says the US and EU have set the pace for other regions to follow, but more collaboration is needed.

“In time, I hope to see more global collaboration, new frameworks emerge, and greater support for Privacy-Enhancing Technologies that will further enable organizations to safely and securely leverage AI to enable transformative business benefits and innovation while safeguarding data privacy and security.”

Continue reading full article here.

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Enveil is a pioneering Privacy Enhancing Technology company protecting Data in Use. Enveil’s business-enabling and privacy-preserving capabilities change the paradigm of how and where organizations can leverage data to unlock value. Defining the transformative category of Privacy Enhancing Technologies (PETs), Enveil’s award-winning ZeroReveal® solutions for secure data usage, collaboration, monetization, and Secure AI protect the content of the search, analytic, or model while it's being used or processed. Customers can extract insights, cross-match, search, analyze, and leverage AI across boundaries and silos at scale without exposing their interests and intent or compromising the security or ownership of the underlying data. A World Economic Forum Technology Pioneer and Gartner Cool Vendor, Enveil is deployed and operational today, revolutionizing data usage in the global marketplace.
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