ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Policy

European Union adopts new limits on artificial intelligence

July 12, 2024
Reading Time: 1 min read
European Union adopts new limits on artificial intelligence

The European Union has adopted what it characterizes as the world’s first comprehensive law on artificial intelligence, which bans some uses of the technology while regulating others. The EU AI Act takes effect Aug. 1, although the beginning of enforcement for different parts of the law will be spread across the next six to 36 months.

The EU AI Act divides AI technology by risk level, according to a summary of the law by the European Parliament. “Unacceptable risk” AI technologies are systems deemed to pose a threat to people, and will be banned. Examples include systems used for cognitive behavioral manipulation of people or specific vulnerable groups; classifying people based on behavior, socio-economic status or personal characteristics; and using biometric identification. The ban on “unacceptable risk” AI begins six months after the law takes effect.

“High risk” AI technologies “that negatively affect safety or fundamental rights” will be placed into two categories. The first category is AI used in products falling under the EU’s product safety legislation, such as toys and cars. The second category is AI falling into specific areas that must be registered in an EU database, such as systems for managing and operating critical infrastructure. High-risk systems will be given 36 months to comply.

Generative AI technologies, such as ChatGPT, are not considered high risk but still must comply with transparency requirements and EU copyright law, although more advanced AI models that may pose systemic risk will be subject to evaluations and must report “serious incidents,” according to the European Parliament.

Tags: Artificial intelligenceRegulatory burden
ShareTweetPin

Related Posts

FDIC, OCC repeal guidance on leveraged lending

FDIC, OCC repeal guidance on leveraged lending

Commercial Lending
December 5, 2025

The FDIC and the Office of the Comptroller of the Currency rescinded guidance on leveraged lending issued more than a decade ago, saying it was too restrictive.

Consumer credit increased in March

Consumer credit increased in November

Economy
December 5, 2025

Consumer credit increased at a seasonally adjusted annual rate of 2.2% in October. Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 4.9%.

ABA Data Bank: Markets revise their rate expectations lower

ABA DataBank: Volatility shifts as chances of rate cut increase

Economy
December 5, 2025

Volatility measures began rising in late October after Fed Chair Powell stated that a rate cut in December was not a foregone conclusion.

Bank economists grow more optimistic about business credit, soft landing

Bank economists: Credit outlook improves amid continued softening

Economy
December 5, 2025

While the outlook for credit conditions over the next six months has improved, bank economists expect continued softening in credit quality and availability given the prospect of persistent labor market headwinds, according to ABA’s latest Credit Conditions Index.

Personal income increased in February

Personal income increased 0.4% in September

Economy
December 5, 2025

Personal income increased 0.4%, or $94.5 billion, in September, the Commerce Department said. The personal savings rate was 4.7%.

Consumer Sentiment declined in April

Preliminary: Consumer sentiment increased 2.3 points in December

Economy
December 5, 2025

The University of Michigan Consumer Sentiment Index rose 4.5% in December compared to the month prior, landing at 53.3, according to preliminary results for the month.

NEWSBYTES

FDIC, OCC repeal guidance on leveraged lending

December 5, 2025

Consumer credit increased in November

December 5, 2025

ABA DataBank: Volatility shifts as chances of rate cut increase

December 5, 2025

SPONSORED CONTENT

Seeing More Check Fraud and Scams? These Educational Online Toolkits Can Help

Seeing More Check Fraud and Scams? These Educational Online Toolkits Can Help

November 1, 2025
5 FedNow®  Service Developments You May Have Missed

5 FedNow® Service Developments You May Have Missed

October 31, 2025

Cash, Security, and Resilience in a Digital-First Economy

October 20, 2025
Rethinking Outsourcing: The Value of Tech-Enabled, Strategic Growth Partnerships

Rethinking Outsourcing: The Value of Tech-Enabled, Strategic Growth Partnerships

October 1, 2025

PODCASTS

Podcast: The outlook for tech-forward community banking

December 4, 2025

Podcast: The Erie Canal at 200

November 6, 2025

Podcast: Why branches are top priority for PNC

October 23, 2025

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.