"In recent months, AI has dominated headlines, with Donald Trump’s AI plan, the phased rollout of the EU’s AI Act, and a fresh wave of corporate lobbying to stall new rules.
Competitiveness, growth, red tape, risk, innovation, productivity. Buzzwords swirled around Brussels in a bid to define the future of AI regulation.
When August arrived, the political noise faded into the summer recess, but AI is continuing to shape real-world decisions, and the consequences are already here.
AI isn't just about potential growth, innovation or future risk. In retail finance, AI risks have become a reality. The sector is among the most active adopters of AI in the EU, these systems are already deciding who gets a loan, how much people pay for insurance, and whether they have access to a bank account.
And while the AI Act will close some gaps in the rules, many will remain, leaving everyday banking, insurance and investment decisions in the hands of opaque models with too little oversight."
https://euobserver.com/Digital/ar630bb3bc
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