EU AI Act: Comprehensive Governance and Risk Management for AI Systems
The European Union has proposed a comprehensive regulatory framework for artificial intelligence, known as the EU AI Act. This legislation aims to ensure that AI technologies are safe, respect user rights, and aligns with the EU's values and principles. The regulation applies to both the development and the deployment of AI systems by providers, users, and third parties, within the EU or beyond its border if its impact is felt within the territory.
Credo AI is committed to helping organizations comply with the EU AI Act through our Responsible AI Platform software. Our governance solutions can help ensure that your organization is prepared to track and report on compliance with the EU AI Act’s requirements within the territory.
NYC Local Law 144: Mandatory bias audits for automated employment decision tools.
New York City Council’s Local Law No. 144 regulates the use of automated employment decision tools used for hiring and promotion decisions for candidates and employees within the city. The law requires such tools must undergo an annual independent bias audit, and the summary of these audits must be made publicly available.
Whether you are an employer or a vendor providing these tools, Credo AI can help support these audits through automated technical assessments of your AI systems with the Credo AI Lens Assessment Framework, which can be used by internal or external auditors to evaluate the disparate impact and other key measures of bias.
The law is enforceable as of July 5, 2023.
Colorado SB21-169: Regulation prohibiting unfair discrimination in insurance.
Colorado SB21-169 is a law prohibiting insurance companies from using external consumer data and information sources (ECDIS), as well as algorithms and predictive models relying on ECDIS, in a manner that leads to “unfair discrimination” of customers based on protected characteristics that include race, color, national or ethnic origin, religion, sex, sexual orientation, disability, gender identity, or gender expression.
With the support of Credo AI's Responsible AI Governance Platform, insurance companies can confidently navigate this process and maintain compliance with SB21-169. Our platform offers a comprehensive solution for AI Governance that facilitates the establishment of governance and risk management, the creation of comprehensive documentation, and consistent reporting.