Analysis from Omdia’s new report AI Regulation: Analysis of Global Policies and Regulatory Frameworks alongside separate regional case study reports covering the Americas, Asia & Oceania, and Europe reveals that effective enforcement mechanisms will be essential to the credibility and success of AI regulatory frameworks.
Under the EU AI Act, organizations can face fines of up to €35 million ($41 million) or 7% of their global annual turnover. South Korea’s AI Basic Act allows fines of up to KRW30 million (approximately $20,000) for non-compliance.
Seven challenges shaping AI regulation
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Omdia has identified seven key AI regulation challenges that regulatory frameworks must address (Figure 1):
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Privacy, Data Management and Copyright
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Transparency and Accountability
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Collaboration and Interoperability
Omdia also assessed AI policy and regulation initiatives introduced around the world. Many countries have launched national AI strategies with the common ambition of achieving a leading position in the global AI economy.
Read the full press release here.