An Artificial Intelligence, Privacy, and Cybersecurity Update for Indian Companies Doing Business in the United States and Europe

Pivotal shifts have occurred in global data privacy, artificial intelligence (AI), and cybersecurity from executives facing more pressure to monitor their organizations’ cybersecurity operations, to an unprecedented wave of consumer data privacy laws and rapid advancements in AI technology use and deployment. Indian organizations should establish best practices to address these new (and emerging) laws, regulations, and frameworks.

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One Step Closer: AI Act Approved by Council of the EU

On 21 May 2024, the Council of the European Union approved the EU Artificial Intelligence Act (the “AI Act”). This is the final stage in the legislative process and comes after the EU Parliament voted to adopt the legislation on 13 March 2024. This final vote clears the path for the formal signing of the legislation and its publication in the Official Journal of the EU in the coming weeks. The AI Act will then enter into force 20 days after such publication with staggered transition periods of 6 to 36 months.

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The Digital Markets, Competition and Consumers Act is Approved: Key Things to Know About the UK’s New Competition and Consumer Powers

On May 23, 2024, the UK finally passed its Digital Markets, Competition and Consumers Act (DMCCA), introducing a new “pro-competition” regime for digital markets and marking the biggest reform to UK competition and consumer laws in a decade. The DMCCA is the latest piece of legislation aiming to tackle the power of Big Tech, as regulators around the world debate new ways to oversee competition in the digital sector.

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Top 10 Questions on the EU AI Act

The EU AI Act will be the first standalone piece of legislation worldwide regulating the use and provision of AI in the EU, and will form a key consideration in AI governance programs. The AI Act will have a significant impact on many organizations inside and outside the EU, with failure to comply potentially leading to fines of up to 7% of annual worldwide turnover.

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EU Formally Adopts Cyber Law for Connected Products

On 12 March 2024, the European Parliament approved the EU Cyber Resilience Act (“CRA”) with a large majority of 517-12 votes in favor of the legislation (with 78 abstentions). The CRA aims to ensure that “products with digital elements” (“PDE”) i.e., connected products such as smart devices, and remote data processing solutions, are resilient against cyber threats and provide key information in relation to their security properties.

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EU Formally Adopts World’s First AI Law

On March 13, 2024, the European Parliament formally adopted the EU Artificial Intelligence Act (“AI Act”) with a large majority of 523-46 votes in favor of the legislation. The AI Act is the world’s first horizontal and standalone law governing AI, and a landmark piece of legislation for the EU.

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Unofficial Final Text of EU AI Act Released

On 22 January 2024, an unofficial version of the (presumed) final EU Artificial Intelligence Act (“AI Act”) was released. The AI Act reached political agreement early December 2023 (see our blog post here) and had undergone technical discussions to finalize the text since. It was reported that the document was shared with EU Member State Representatives on 21 January 2024, ahead of a discussion within the Telecom Working Party, a technical body of the EU Council on 24 January 2024, and that formal adoption at the EU Member State ambassador level (i.e. COREPER) will likely follow on 2 February. On Friday 26 January 2024, the Belgian Presidency of the Council officially shared the (analysis of the) final compromise text of the AI Act with Member State representatives – clearly indicating that this text will be put forward for adoption.

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Preparing for the EU AI Act: Part 2

Join Sidley and OneTrust DataGuidance for a reactionary webinar on the recently published, near-final text of the EU AI Act on February 5, 2024. This discussion with industry panelists will cover initial reactions to the text of the EU AI Act following finalization by EU legislators and examine the key points in the AI Act that businesses need to understand.

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EU Reaches Political Agreement on Cyber Resilience Act for Digital and Connected Products

On 30 November 2023, the EU reached political agreement on the Cyber Resilience Act (“CRA”), the first legislation globally to regulate cybersecurity for digital and connected products that are designed, developed, produced and made available on the EU market. The CRA was originally proposed by the European Commission in September 2022. Alongside the recently adopted Data Act, Digital Operational Resilience Act (“DORA”), Critical Entities Resilience Act (“CER”), Network and Information Systems Security 2 Directive (“NISD2”) and Data Governance Act, the CRA builds on the EU Data and Cyber Strategies, and complements upcoming certification schemes, such as the EU Cloud Services Scheme (“EUCS”) and the EU ICT Products Scheme (“EUCC”). It responds to an increase in cyber-attacks in the EU over the last few years – in particular the rise in software supply chain attacks which have tripled over the last year –as well as the significant rise in digital and connected products in daily life which magnifies the risk of such attacks.

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EU Reaches Historical Agreement on AI Act

On 8 December 2023 — following three days of lengthy and intensive negotiations — EU legislators reached political agreement on the world’s first stand-alone law regulating AI: the EU’s AI Act. The EU considers the AI Act as one of its key pieces of legislation and fundamental to ensuring the EU becomes the world’s leading digital economy.