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EU AI Act: Overview of the key rules and requirements

EU AI Act: Overview of the key rules and requirements

After years of consultation, drafting and negotiation, the EU Artificial Intelligence Act (EU AI Act) was finally published in the EU's Official Journal on 12 July 2024. This marks a major step forward towards a more sustainable and secure future of AI, globally. For more detail on the key rules and requirements of the EU AI Act, you can download our Executive Briefing and EU AI Act Summary.

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Labour's approach to UK digital regulation
Artificial intelligence

Labour's approach to UK digital regulation

The King's speech, setting out the new Labour government's proposed legislative programme, included only one brief reference to digital regulation – specifically, to the need for regulation of the development of the most powerful large language AI models – but, as ever, the devil is in the detail.

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Understanding the EU AI Act: implications for employers
Artificial intelligence

Understanding the EU AI Act: implications for employers

The recent approval of the EU Artificial Intelligence Act (EU AI Act) marks a significant shift in the legal landscape surrounding the use of artificial intelligence (AI) in the workplace. Employers and HR professionals must be aware of the EU AI Act, its risk classifications and the corresponding obligations to ensure compliance.

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Survey of Cybersecurity Disclosures in Annual Reports on Form 10-K Filed by Selected Well-Known Seasoned Issuers

Survey of Cybersecurity Disclosures in Annual Reports on Form 10-K Filed by Selected Well-Known Seasoned Issuers

We have developed this survey to provide information to our clients and other interested parties about cybersecurity related disclosures included in annual reports on Form 10-K. Our survey focuses on companies registered with the U.S. Securities and Exchange Commission (SEC) that have disclosed that they qualify as well-known seasoned issuers and that we understand are included in the Fortune 100 index. The charts included in the survey attached below reflect selected statistics that we believe provide useful information about cybersecurity disclosure characteristics and related governance practices. A list of the companies whose annual reports we reviewed is provided in Annex A.

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Child Online Safety: Navigating complex regulation
Cyber

Child Online Safety: Navigating complex regulation

The Australian Securities Exchange (ASX) has updated its Guidance Note 8 (effective 27 May 2024) which provides crucial insights for listed entities on managing and disclosing cyber incidents. The Guidance is particularly relevant in an era where data breaches and cyber-attacks are becoming increasingly common. It outlines the circumstances under which a listed entity must disclose a data breach and the exceptions to their disclosure obligations. We set out the key takeaways for listed entities in Australia.

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Understanding the New AI Operator Guidelines in Japan
Artificial intelligence

Understanding the New AI Operator Guidelines in Japan

Countries around the world are taking diverging approaches when it comes to regulating artificial intelligence (AI), and in particular with respect to generative AI. Japan has issued a comprehensive set of non-binding guidelines, which will be an important reference for those who run businesses in Japan. The government has produced a useful, detailed summary of the guidelines (Main body / Annex). In this article we provide a quick snapshot of the guidelines as well as some takeaway suggestions for commercial organisations to consider.

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Amendments to the Act on the Protection of Personal Information of Japan Proposed for 2025
Data

Amendments to the Act on the Protection of Personal Information of Japan Proposed for 2025

The PPC announced that there will be amendments to the Act on the Protection of Personal Information (APPI) in 2025, which are set to introduce significant changes to the current data protection framework. The Personal Information Protection Committee of Japan has published an interim report following their meeting on 26 June 2024 to summarise the ongoing discussions to revisit the APPI. Revisions are being proposed as part of the requirement to have the APPI reviewed every three years and in response to industry feedback calling for regulations that better align with practical business conditions.

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Q-Day: Will quantum turn the world upside down?
Emerging tech

Q-Day: Will quantum turn the world upside down?

Quantum is in some respects like other emerging technologies over the past few years, such as AI and blockchain. Much of it is already here but by another name, and truly disruptive use cases may be few. But there remain important reasons to pay attention to this esoteric union of computing and physics. We explore key considerations from a legal and commercial perspective.

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Cybersecurity and the ASX Listing Rules: Key Takeaways from the Updated Guidance Note 8
Cyber

Cybersecurity and the ASX Listing Rules: Key Takeaways from the Updated Guidance Note 8

The Australian Securities Exchange (ASX) has updated its Guidance Note 8 (effective 27 May 2024) which provides crucial insights for listed entities on managing and disclosing cyber incidents. The Guidance is particularly relevant in an era where data breaches and cyber-attacks are becoming increasingly common. It outlines the circumstances under which a listed entity must disclose a data breach and the exceptions to their disclosure obligations. We set out the key takeaways for listed entities in Australia.

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The Impact of the new EU AI Act on the Healthcare Sector Part One: Scope and a Risk-Based Approach
Healthtech

The Impact of the new EU AI Act on the Healthcare Sector Part One: Scope and a Risk-Based Approach

AI can and will be used across all industries, including the healthcare sector. Therefore, the AI Act must be applied having regard to and in accordance with all industry-specific sectoral regulations in Europe. In the healthcare sector, AI will be used in medical devices in particular, and AI-based medical devices will be subject to and governed by both the EU Medical Device Regulation 2017/745/EU (MDR) and the AI Act at the same time - which will require a coordinated interaction between the AI Act and the MDR and a thoughtful application by the competent authorities in order to avoid overregulation and legal uncertainties in the very innovation-friendly health tech sector in Europe.

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The Impact of the new EU AI Act on the Healthcare Sector – Part Two: Practical Guidance – What Businesses need to do
Healthcare & life sciences

The Impact of the new EU AI Act on the Healthcare Sector – Part Two: Practical Guidance – What Businesses need to do

The use of AI in the healthcare sector also enables simplified and accelerated diagnoses of diseases by accurately analysing medical images and processing laboratory test results and patient records. In addition, robotics and telemedicine will improve existing treatments and create new ones. To capitalise on the potential of AI, stakeholders need to act now to ensure compliance and legal certainty in their strategic and operational planning. These five steps provide some initial guidance on preparing for the new regulation:

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The Impact of the new EU AI Act on the Healthcare Sector – Part Three: Liability for AI – the next legislative challenge for the EU
Artificial intelligence

The Impact of the new EU AI Act on the Healthcare Sector – Part Three: Liability for AI – the next legislative challenge for the EU

Following the adoption of the AI Act by the Council of the European Union last week (which is expected to be published in the Official Journal at the end of June 2024 and will then enter into force 20 days later), the EU is now turning to proposals to address the complex issues of AI liability. This is no less important than the regulation of AI itself, as potential liability risks for innovations have a significant impact on businesses – particularly those in the medical device sector and may be a barrier to entry into the market.

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Recent Webinars

Artificial intelligence

Webinar: Regulating AI examining global developments

In this webinar our expert panel looked at the global development of regulatory frameworks for AI, including emerging trends and diverging approaches being taken in different jurisdictions. This included the EU’s AI Act, US developments at federal and state level, the UK perspective and the measures being taken in China to tackle regulation of generative AI and deepfakes.

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Healthcare & life sciences

Webinar: Healthcare Innovations Shaping the Global Future

AI, next-gen robotics, novel drugs, healthcare without healthcare professionals, personalised medicine and big data are just some of the ways the healthcare sector is being transformed. What does this mean for you and your organisation? In this webinar our expert panel looked at the key legal issues and explored how to leverage these for your own transformation and growth.

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Cyber

Webinar: Navigating Cyber Security and Resilience

The global trend towards increased cybersecurity and resilience regulation will tighten existing requirements and affect a broader range of businesses than ever before. From updates in SEC and NYDFS cyber requirements, to Singapore’s proposed Cybersecurity Amendment Bill, our global panel examined developments in the US, APAC, Europe and the Middle East

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SEC Invents "AI Washing" with Focus on Investment Adviser Practices
Fintech

SEC Invents "AI Washing" with Focus on Investment Adviser Practices

On March 18, 2024, the U.S. Securities and Exchange Commission (SEC) settled enforcement actions against two SEC-registered investment advisers, Delphia (USA) Inc. (Delphia) and Global Predictions Inc. (Global Predictions) for allegedly deceptive disclosures about their use of artificial intelligence (AI)

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China Revamps its Rules on Cross-border Data Transfer

China Revamps its Rules on Cross-border Data Transfer

The Cyberspace Administration of China released the Provisions on Regulating and Promoting Cross-border Data Flows (the New Provisions) on 22 March 2024, together with the second edition of the Guidelines for Security Assessment Filings and the Guidelines for Filing Personal Information Export Standard Contract, each with immediate effect.

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Brands and Digital Platforms Beware: ACCC's War on Deceptive Influencer Marketing in the Digital Age
Media & entertainment

Brands and Digital Platforms Beware: ACCC's War on Deceptive Influencer Marketing in the Digital Age

The Australian Competition and Consumer Commission (ACCC) is targeting misleading and deceptive influencer marketing in 2024-25.

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EU Cyber Resilience Act Approved by European Parliament

EU Cyber Resilience Act Approved by European Parliament

On Tuesday 12 March, the European Parliament approved the Cyber Resilience Act, a milestone EU regulation which will set cyber security rules for 'products with digital elements' made available on the EU market. The CRA is now awaiting formal approval by the Council and is expected to enter into force in the coming months, with its rules becoming fully applicable over various transition periods. We overview key aspects of the CRA and flag some of the changes that have been introduced since the original Commission proposal.

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Digital Services Act (DSA) Checklist

Digital Services Act (DSA) Checklist

The EU Digital Services Act applies in full since 17 February 2024. We have prepared a PDF which contains an overview of some of the key items to confirm as part of a business's Digital Services Act status checks given this major milestone. The document is interactive – if you want to find out a bit more detail on some aspects, just click where marked

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Legal 500: Life Sciences Comparative Guide

Legal 500: Life Sciences Comparative Guide

We are very proud to have launched the new Legal 500 Life Sciences Comparative Guide as a joint project of The Legal 500 and Clifford Chance. The aim of this guide is to provide its readers with a pragmatic overview of life sciences law across a broad variety of jurisdictions. We have provided the Q&A template for each chapter and also contributed country-specific chapters for the EU and UK. Each chapter provides information about the current issues affecting life sciences practice in a particular country and addresses topics such as legislative framework, regulatory processes, advertising, restrictions, risks of liability and compliance standards as well as insight and opinion and any upcoming legal changes planned for their respective country

US-states_600x400px

US State Privacy Laws

U.S. data privacy has entered a new era. Historically, the data privacy legal landscape has been dominated by sector-specific legislation, such as the Graham-Leach-Bliley Act and Health Insurance Portability and Accountability Act, often with a focus on cybersecurity or preventing misuse of certain types of personal information. The California Consumer Privacy Act was the first comprehensive (i.e., broad sweeping) state data privacy law added to this U.S. regulatory framework that focused on consumer protection. Since its adoption, various state-level regulatory and legislative activity has been building momentum. Today, several states have enacted or are continuing to develop comprehensive data privacy laws with requirements that apply across nearly all business sectors. Understanding the scope, applicability, and requirements of these state data privacy laws are more crucial than ever for companies operating in the U.S.  Read our individual overviews of currently enacted comprehensive state data privacy laws to learn more.

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AI-600x400px-1

Responsible AI in Practice

Public awareness of AI is increasing and, with it, questions on how AI will be used and the impact it will have on our lives. To help identify the pressures faced by policymakers and demands from stakeholders, our report, in partnership with Milltown Partners – Responsible AI in Practice – analyses the results of focus groups of policy-informed individuals conducted in the US, the UK and Germany. Groups were asked about issues such as bias, consent, copyright, transparency,  content moderation and AI governance.  We found that people's attitudes towards AI are developed and nuanced. They are optimistic about the potential of AI, but there is work to do to demonstrate that it will be used responsibly and safely.

Read the Report
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Who we are

We are one of the world's pre-eminent law firms, with significant depth and range of resources across five continents. Our Tech Group is a single global team delivering strategic tech law advice to help clients stay ahead of the curve and outstrip the pace of change.

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Talking Tech Newsletters

Global Fintech Update
Fintech

Global Fintech Update

Our weekly global fintech round-up, summarises fintech regulatory developments that have happened around the world along with our Clifford Chance fintech publications and upcoming events

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Tech Policy Unit Horizon Scanner
Tech

Tech Policy Unit Horizon Scanner

The Tech Policy Unit Horizon Scanner is our monthly dive into the key tech policy and legislative developments around the world.

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Sustainability: ESG Developments

Sustainability: ESG Developments

This monthly newsletter is intended to assist banks, financial investors and corporates in keeping up to date with ESG developments.

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The Advertising Brief
Media & entertainment

The Advertising Brief

Our quarterly newsletter delivering concise summaries of the most interesting cases from the UK's Advertising Standards Authority (ASA) with our key takeaways for all brand owners to be aware of

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Global Crypto Round-Up
Fintech

Global Crypto Round-Up

This monthly newsletter provides you with a monthly brief into the world of digital assets, keeping you up to date with regulatory developments, publications and events from across jurisdictions.

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Stories from the Wild
Cyber

Stories from the Wild

This monthly newsletter will bring you the latest stories in information security and cybersecurity.

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Latest Podcast

australia-tech-connectivity

LabChat: Blockchain in Asia Pacific (with Joanne Chuang, Jack Hardman and Marc Liew)

Create+65 Innovation Lead Joanne Chuang and Dubai Partner Jack Hardman talk to Marc Liew, Head of Ecosystem Development for APAC at R3, about some of the key developments in the blockchain space including whether the current state of the market still presents an opportunity for reflection and innovation, as well as Clifford Chance's collaboration with R3 through the Venture Development Programme.  

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Latest Events

10 October 2024: TradFi Meets Blockchain Policy Summit (New York)

We are delighted to be hosting the 2024 TradFi Meets Blockchain Policy Summit on behalf of Capitol Asset Strategies at our office in New York. Join us for thoughtful panel conversations focused on traditional capital markets use of distributed ledger technology to sell and distribute regulated "tokenized" financial products and the real business and regulatory challenges to wider adoption. You will hear from expert business leaders, legal professionals and policy leaders with panelists and attendees spanning traditional finance and crypto-native, all together in one room for insights on this growing market. | See the full agenda and speaker line up or register here.

Time: from 11:00 EDT