EPISODE · Feb 15, 2024 · 34 MIN
Understanding the EU AI Act: The Impact on Investment Managers
from Alt Funds Network · host Ian Gobin, Mike Schroeder, Skyler Steinke
Find us online: https://altfunds.io/Email us with topic ideas: [email protected]: https://bit.ly/4afXcanApple Podcast: https://apple.co/4akXAUSGoogle: https://bit.ly/4am9oXk 👇 Click Below to be a guest on our video podcast: 👇 https://bit.ly/46X7cSQ Connect with Ian:Email: [email protected] Timestamps:00:00 Introduction to the Podcast00:35 Understanding the EU AI Act00:57 Implications of the EU AI Act03:09 The EU AI Act and Investment Managers04:35 Understanding the Scope of the EU AI Act07:16 The Risk Categories of the EU AI Act11:56 Penalties for Non-Compliance with the EU AI Act14:29 The Impact of the EU AI Act on Investment Managers21:59 The Future of AI Legislation31:20 Conclusion and Final Thoughts Disclaimer-Alt Funds Network LLC and and its affiliates, episode guests, and the companies they represent do not provide tax, legal or accounting or investment advice. This material has been prepared for informational and educational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, accounting, and investment professionals before engaging in any transaction or making any financial or legal decision based on your specific situation.
What this episode covers
In this episode of the All Funds Investment podcast, Ian Gobin, owner and partner of Cummings Pepperdine LLP, discusses the EU AI Act's potential consequences for investment managers. Ian explains the Act's scope, risk categories, penalties, and enforcement mechanisms. He shares that all providers and deployers of AI systems affecting or used in the EU, regardless of their location, need to comply with the Act. Gavin advises fund managers to prepare now for compliance, which will become enforceable in the summer of 2023. The discussion warns fund managers that trading algorithms and even internal AI systems used for general business operations could fall under this legislation.
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Understanding the EU AI Act: The Impact on Investment Managers
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