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Artificial intelligence (AI) can undermine financial stability because of malicious use, misinformation, misalignment, and the AI analytics market structure. The low frequency and uniqueness of financial crises, coupled with mutable and…
In August 2024, the EU Artificial Intelligence Act (AIA) came into force, marking the world's first large-scale regulatory framework for AI. Central to the AIA is a risk-based approach, aligning regulatory obligations with the potential…
Artificial intelligence (AI) is reshaping society, from video generation to medical diagnosis, coding agents to autonomous vehicles. Yet researchers, policymakers, and technology companies lack shared terminology for discussing AI risks.…
Artificial intelligence now decides who receives a loan, who is flagged for criminal investigation, and whether an autonomous vehicle brakes in time. Governments have responded: the EU AI Act, the NIST Risk Management Framework, and the…
Increasingly, laws are being proposed and passed by governments around the world to regulate Artificial Intelligence (AI) systems implemented into the public and private sectors. Many of these regulations address the transparency of AI…
Regulations govern many aspects of citizens' daily lives. Governments and businesses routinely automate these in the form of coded rules (e.g., to check a citizen's eligibility for specific benefits). However, the path to automation is long…
Fervent calls for more robust governance of the harms associated with artificial intelligence (AI) are leading to the adoption around the world of what regulatory scholars have called a management-based approach to regulation. Recent…
As artificial intelligence (AI) becomes increasingly embedded in public and private life, understanding how citizens perceive its risks, benefits, and regulatory needs is essential. To inform ongoing regulatory efforts such as the European…
Although AI systems are increasingly being leveraged to provide value to organizations, individuals, and society, significant attendant risks have been identified and have manifested. These risks have led to proposed regulations,…
As Artificial Intelligence becomes increasingly central to corporate strategies, concerns over its risks are growing too. In response, regulators are pushing for greater transparency in how companies identify, report and mitigate AI-related…
Algorithms are becoming more widely used in business, and businesses are becoming increasingly concerned that their algorithms will cause significant reputational or financial damage. We should emphasize that any of these damages stem from…
Document redaction in public authorities faces critical challenges as traditional manual approaches struggle to balance growing transparency demands with increasingly stringent data protection requirements. This study investigates the…
Audit transaction testing validates accuracy and completeness of customer-facing statements against internal systems of record. Traditional manual, sample-based review of unstructured PDF statements is labor-intensive and does not scale to…
Commercial insurance underwriting is a labor-intensive process that requires manual review of extensive documentation to assess risk and determine policy pricing. While AI offers substantial efficiency improvements, existing solutions lack…
The proposed EU AI Act is the first comprehensive attempt to regulate AI in a major jurisdiction. This article analyses Article 9, the key risk management provision in the AI Act. It gives an overview of the regulatory concept behind…
While the pace of development of AI has rapidly progressed in recent years, the implementation of safe and effective regulatory frameworks has lagged behind. In particular, the adaptive nature of AI models presents unique challenges to…
Existing studies show that regulation is a major barrier to global economic integration. Nonetheless, identifying and measuring regulatory barriers remains a challenging task for scholars. I propose a novel approach to quantify regulatory…
Artificial Intelligence (AI) is an important driving force for the development and transformation of the financial industry. However, with the fast-evolving AI technology and application, unintentional bias, insufficient model validation,…
With the Proposal for a Regulation laying down harmonised rules on Artificial Intelligence (AI Act) the European Union provides the first regulatory document that applies to the entire complex of AI systems. While some fear that the…
AI companies increasingly develop and deploy privacy-enhancing technologies, bias-constraining measures, evaluation frameworks, and alignment techniques -- framing them as addressing concerns related to data privacy, algorithmic fairness,…