Since our founding, Credo AI has been a global company committed to ensuring technology is always in service to humanity. Artificial Intelligence touches nearly every aspect of our lives, and the benefits and harms of this technology now include existential implications for our society and economy. This tension between AI risks and rewards is playing out in real-time as cities, regions, nation-states, and supranational institutions around the world work towards shaping a future powered by AI.
The European Union (EU) is a political and economic powerhouse, and its Single Market is home to 23 million companies that account for nearly one-third of total world trade. The General Data Protection Regulation set a global precedent for privacy protections in 2018, and the upcoming EU Artificial Intelligence Act (EU AI Act) is expected to have a similar impact, known as the "Brussels Effect," on the development and deployment of AI globally.
At Credo AI, we are about intentional action and speed and recognize real-world impact requires on-the-ground leadership to bring ideas and partnerships to life. Today, we are pleased to announce we are expanding our footprint in Europe with the appointment of Giovanni Leoni as Head of Business Strategy & Development.
Giovanni brings more than 20 years of experience to the role, having most recently served as the Global Head of Algorithm and AI Ethics at Inter IKEA Group. During his tenure, he led the operationalization of responsible analytics across the company. He is also an active contributor to the global AI ethics community, including as a longstanding member of the Board of Directors for the Ethical Artificial Intelligence Governance Group (EAIGG), among others.
Since our inception, we have worked with European companies, thought leaders, and organizations, as well as members of the European Commission, Parliament, and Council, who are deeply committed to bringing efficient and scalable governance and assurance solutions to help organizations deploy AI with confidence. The impending EU AI Act is set to introduce one of the strongest regulatory frameworks in the world on the use of AI, and we are excited to respond to the increasing demand in Europe for tools like Credo AI's Governance SaaS Platform, particularly from early adopters in the high tech, retail, insurance, and financial services sectors seeking to deploy responsible AI at scale.
Our expansion in Europe is a testament to our commitment to serving organizations across the world with the highest standards for Responsible AI. We are thrilled that this increased footprint will enable us to meet growing demand and accelerate our learnings from partners in the region as we work together to shape the AI future with trustworthy technology at the core. We look forward to continuing this essential work with our European customers and partners, delivering accelerated impact and sharing our learnings globally.
¹European Commission, Annual Single Market Report 2023, https://single-market-economy.ec.europa.eu/system/files/2023-01/ASMR%202023.pdf