Artificial Intelligence (AI) has transformed numerous industries, but it also poses risks that require strong regulations to mitigate. Governments across the world are ramping up efforts to ensure AI's responsible development and deployment. This blog provides an in-depth overview of AI regulations in Europe, the United States, and Canada, focusing primarily on high-risk AI applications. The EU AI Act establishes a risk-based framework that prohibits AI systems with unacceptable risks and imposes stringent obligations on high-risk AI systems. The Algorithmic Accountability Act mandates companies to identify and resolve AI biases in the US, focusing on Automated Decision Systems (ADS) used for Critical Decisions (ACDPs). The Stop Discrimination by Algorithms Act prohibits the use of algorithms that make decisions based on protected characteristics in Washington DC. Assembly Bill 331 in California seeks to regulate automated decision tools that contribute to algorithmic discrimination. The Artificial Intelligence and Data Act in Canada aims to establish a risk-based regulatory approach for AI systems that may adversely affect human rights or pose risks of harm. The article concludes with the importance of early compliance for businesses and the role of Holistic AI in ensuring compliance with upcoming AI regulations.

To address concerns regarding the use of artificial intelligence (AI), regulations have been developed. There are two approaches to regulating AI: horizontal and vertical. Horizontal regulation applies to all applications of AI across all sectors and is typically controlled by the government, while vertical regulation only applies to a specific application of AI or sector and may be delegated to industry bodies. Each approach has its pros and cons, such as flexibility, standardization, and coordination. Examples of horizontal regulation include the EU AI Act and the US Algorithmic Accountability Act, while examples of vertical regulation include the NYC bias audit mandate and the Illinois Artificial Intelligence Video Interview Act. It is essential to note that this article does not offer legal advice.