Risk Manager + AI: EY and NVIDIA's AI Power Move, Virginia's AI Bill Nears Finish Line, The Legal and Compliance Risks of Generative AI

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• A Deep Dive into the Legal and Compliance Risks of Generative AI

• EY and NVIDIA's AI Power Move

• Virginia's AI Bill Nears Finish Line

• Trend Micro Unleashes Open-source AI for Cybersecurity

• Transparency in AI: The Government's Role

A Deep Dive into the Legal and Compliance Risks of Generative AI

AI is shaking things up in the backoffice, and the responsibility is on everyone—from cybersecurity to marketing. This shift means departments must collaborate to manage the new landscape of risks.

By the Numbers:

- 70% of organizations report AI risk as a top concern.

- Over 60% have yet to establish formal AI governance.

- 45% of companies are ramping up investment in AI risk management.

Why It Matters: As AI technologies evolve, so do the potential risks, making it crucial for businesses to keep pace with new compliance measures.

What's Next: Companies will need to develop clear strategies and invest in tools that effectively address AI risks. Look for increased collaboration across departments to tackle these issues head-on. Read More

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EY and NVIDIA's AI Power Move

EY and NVIDIA are teaming up to supercharge risk management with AI agents. This expanded partnership is all about deploying advanced AI services to help clients manage risk like never before. The collaboration aims to enhance operational efficiency and decision-making.

- 3rd party risk management: Key focus area for the new AI agents.

- Significant increase: In client capability for handling risks.

- Comprehensive management: More robust risk strategies for clients.

Why It Matters: The partnership promises to transform how businesses tackle risk and streamline operations with cutting-edge AI.

What They’re Saying: “AI agents give businesses the power to navigate complexity with unprecedented intelligence. By combining EY’s deep domain expertise with NVIDIA AI, we’re shaping a new era of enterprise services—where AI-driven reasoning transforms financial decision-making, risk management and regulatory compliance at global scale.” - Jensen Huang, NVIDIA founder and CEO

What’s Next: Expect to see more AI-driven solutions across different sectors as EY and NVIDIA continue to innovate. Clients should prepare for enhanced AI integration into their risk management protocols. Read More

Virginia's AI Bill Nears Finish Line

Virginia is on the brink of enacting a comprehensive AI bill, aiming to set new standards for AI systems in the state. The legislation closely follows Colorado's footsteps, focusing on risk management and impact assessments. If signed, it could become a model for other states considering similar AI regulations.

- Virginia's bill is expected to cover a wide range of AI applications.

- The legislation mandates impact assessments for AI systems.

- Similar laws are being considered in several other states.

Why It Matters: The bill represents a significant step toward more robust AI regulation, addressing growing concerns over AI's impact on society.

What's Next: The governor's approval is the final step needed for the bill to become law. If signed, implementation details will start to unfold, potentially influencing AI policy across the nation. Read More

Trend Micro Unleashes Open-source AI for Cybersecurity

Trend Micro is shaking up the cybersecurity world by open-sourcing its latest AI model and agent, named Trend Cybertron. This move is set to redefine agentic cybersecurity by harnessing real-time threat intelligence from a massive network of sensors. With a focus on proactive risk management, Trend Micro aims to enhance the security landscape through community collaboration.

By the Numbers:

- Over 250 million sensors provide threat intelligence.

- The platform covers more than 500,000 corporate customers.

- Trend Micro's AI model processes data from over 200 countries.

Why It Matters: Open-sourcing AI in cybersecurity could accelerate innovation and improve defenses against increasingly sophisticated cyber threats.

What's Next: Trend Micro plans to collaborate with developers and researchers to further refine Trend Cybertron. The company is also setting up workshops and hackathons to engage the tech community. Read More

Transparency in AI: The Government's Role

Governments are under pressure to increase transparency in AI systems. As AI technologies become more integrated into society, there's a call for agencies to establish clear guidelines on risk management and accountability. This push aims to ensure that AI systems are both fair and safe for public use.

- 20% of governments worldwide have implemented AI-specific policies.

- 35% of surveyed agencies lack comprehensive AI risk management frameworks.

- 50% of tech experts believe government transparency will boost public trust in AI.

Why It Matters: Enhanced government documentation and transparency can lead to safer, more reliable AI systems, aligning technology with public interest and ethics.

What's Next: Expect more governments to draft and enforce AI regulations in the coming year. Agencies will likely collaborate with tech companies to refine these practices. Public consultations and feedback sessions are anticipated to shape these evolving policies. Read More