EU Holds Firm on AI Act, BRICS Pushes for Data Protections - AI Policy Brief #25

Hi there,

Welcome to this week's edition of the AI Policy Brief, where we bring you the latest updates on AI regulations and policies from around the globe. This week, the European Commission is maintaining its timeline for the AI Act, while the BRICS Summit has called for stronger AI data protections. In the United States, there are plans to restrict AI chip exports to Malaysia and Thailand, reflecting ongoing geopolitical considerations in AI technology distribution.

Additionally, the UK and Singapore are collaborating on AI guidelines specifically for the fintech sector, and Insurance Europe has responded to the EU's Cloud and AI Act. Stay tuned as we delve into these stories and more, providing you with a comprehensive overview of the evolving landscape of AI policy and regulation.

The European Commission will adhere to the AI Act timeline, targeting full implementation by mid-2026, despite opposition from major tech firms. Meanwhile, BRICS leaders are advocating for AI data protections, and the U.S. plans to restrict AI chip exports to Malaysia and Thailand to curb potential smuggling into China.

Uganda is drafting its first national AI policy to regulate technology and ensure data privacy. The Financial Reporting Council has issued guidance on AI use in auditing to support auditors. The South Korean Government plans to build micro data centers to enhance its AI semiconductor ecosystem. ASML Holding NV, Airbus SE, and Mistral AI have requested the EU to delay the AI Act. Google faces an EU antitrust complaint over its AI Overviews feature.