Browsing: Ai Regulation

Microsoft President Brad Smith is calling for urgent regulation of AI, and his argument is that consumer products like milk and washing machines have more oversight than the companies building artificial intelligence.

This week, leaders of Google, OpenAI, Anthropic, Meta, xAI and Nvidia signed the White House Accord on Super Intelligence. The companies committed to four layers of oversight for frontier models: internal controls, an internal team that verifies them, an independent external auditor or evaluator, and an independent board committee. The commitments are voluntary for now,…

Let’s start with a recent, increasingly common scenario in the Risk Management department of large banks. Let’s say a risk model validator at a large bank opens a submission. The model is an AI assistant that reads a borrower’s financial statements, pulls relevant third-party research, and drafts the first version of a credit memo. It…