Proposed EU-US AI Risk Management Road Map May Crumble under Jurisdictional and Corporate Preferences
The lofty goals of a planned EU-US AI roadmap may be hampered by regulatory differences and corporate preference for self-regulation.
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However, the road to a useful joint framework won’t be easy. “The potential downside US companies may see [is] if this evolves into a step that leads to governmental regulation – because there’s currently no strict regulatory regime,” said Blank Rome partner Alex Nisenbaum. “Private companies will probably prefer self-regulation. We’ve seen the EU’s proposed AI Act will have significant penalties if use of AI violates the act.”
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Still, while regulatory approaches may vary, Blank Rome partner Nisenbaum noted that the two jurisdictions have adopted similar risk-based approaches to regulating AI in recent years.
Nisenbaum noted the EU AI Act’s categorization of high-risk usage mirrors some US federal agencies’ stance on AI. “I think that risk-based approach is definitely similar to what is sort of moving forward in the US as well. In 2021 there was some direction from Congress and the National Institute of Standards and Technology released a draft framework for AI [in 2022],” he said.
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"Proposed EU-Us AI Risk Management Road Map May Crumble under Jurisdictional and Corporate Preferences, " by Victoria Hudgins was published in Global Data Review on May 20, 2022.