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The long-awaited EU AI Regulation is now final (published in June 2024). What a challenge for the EU ! Finding the right balance between fostering technological innovation and safeguarding the fundamental rights, safety, and health of human beings, is a delicate exercise.
Artificial Intelligence (AI) plays a significant role in daily life. For example, in the financial sector, it can be used for fraud detection, loan approvals, and personalized customer service. However, using AI also introduces (or exacerbates) various risks.
Financial institutions face increasing scrutiny from regulators and must also contend with sophisticated cybercriminals. AI plays a critical role in combating financial crime, especially money laundering, which threatens financial stability and societal safety.
The Financial Services and Markets Authority (FSMA) launched an online tool that provides an overview of the costs of pension products. The tool was developed following a study carried out by the FSMA at the request of the Belgian government in which it looked at the costs charged by financial institutions for their pension products.
