In 2024, the EU adopted the AI Act, aiming to foster trustworthy AI in Europe and introducing the first-ever comprehensive legal framework in the region. The EU AI Act establishes a risk-based approach by which AI systems can be classified according to different levels of risk (unacceptable, high risk, limited and minimal risk).
EFAMA aims to support its members in being innovators on the digital front, promoting the responsible adoption of new technologies such as AI, which will allow asset management firms to deliver better services and solutions while building confidence and trust in our industry. To this end, EFAMA helps its members navigate AI complexity, provides guidance on implementing the new obligations under the AI Act (as well as interdependent EU regulations), and promotes ethical and responsible AI practices.
Interactive session to showcase EFAMA’s new tool and support members in complying with the EU AI Act
EFAMA is pleased to invite its members to a dedicated Q&A session introducing the AI System Assessment Tool, taking place on Tuesday 18 March, from 16:00 to 16:45 CET.
The European Fund and Asset Management Association (EFAMA) has launched its AI-system Assessment Tool, which is designed to support firms of all sizes navigate the regulatory complexities of AI. Developed together with EFAMA member experts from across the industry, the Tool will help firms document and assess AI use cases in line with the EU AI Act and other interdependent regulations, including GDPR, MiFIR and DORA, using a free-of-charge standardised tool.
EFAMA has launched its AI-system Assessment Tool, which is designed to support firms of all sizes navigate the regulatory complexities of AI. Developed together with EFAMA member experts from across the industry, the Tool will help firms document and assess AI use cases in line with the EU AI Act and other interdependent regulations, including GDPR, MiFIR and DORA, using a free-of-charge standardised tool.
The general application of the AI Act is set to enter into force next year—including new obligations for high-risk AI system providers.
