EY’s white paper examines evolving AI regulations across the EU, UK, and US, highlighting risks from unchecked AI like bias, discrimination, and lack of transparency. The EU AI Act categorizes systems by risk and enforces strict rules for high-risk applications. The UK promotes a light-touch, innovation-friendly approach, while the US focuses on sectoral guidance. EY recommends companies adopt proactive governance, including model monitoring, robust documentation, and cross-functional AI oversight. It stresses the need for agility as regulatory landscapes evolve, urging firms to align AI practices with emerging global standards.

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