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Harmony Analytics

White House tackles artificial intelligence with new executive order

On October 31, 2023, President Biden has issued an Executive Order aimed at advancing the development of artificial intelligence (AI) while ensuring safety, security, privacy, equity, and civil rights. The order includes several key actions:

1. New Standards for AI Safety and Security:

🔹 Require AI developers to share safety test results with the government.
🔹 Develop rigorous safety standards and testing.
🔹 Protect against AI-related risks in various sectors (engineering of dangerous biological materials, fraud and deception, cybersecurity vulnerabilities)

2. Protecting Americans’ Privacy:

🔹 Prioritize privacy-preserving techniques and research.
🔹 Evaluate how agencies collect and use commercially available information.
🔹 Develop guidelines for assessing the effectiveness of privacy-preserving techniques.

3. Advancing Equity and Civil Rights:

🔹 Prevent AI algorithms from exacerbating discrimination.
🔹 Ensure fairness in the criminal justice system’s use of AI.

4. Standing Up for Consumers, Patients, and Students:

🔹 Promote responsible AI use in healthcare and education.

5. Supporting Workers:

🔹 Develop principles and best practices for mitigating AI-related workplace risks.

6. Promoting Innovation and Competition:

🔹 Support AI research and a competitive AI ecosystem.
🔹 Expand opportunities for skilled immigrants.

7. Advancing American Leadership Abroad:

🔹 Collaborate internationally on AI frameworks and standards.

8. Ensuring Responsible Government Use of AI:

🔹 Issue guidance for agencies’ use of AI.

Facilitate efficient AI procurement and workforce development.
These actions aim to foster responsible AI innovation, safety, and security, privacy protection, equity, and global leadership. Collaboration with Congress is expected for further progress.

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European Union

European Union

2019 – Regulation (EU) 2019/2088 (Sustainability)
2021 – Regulation (EU) 2021/1119 (European Climate Law)
2021 – Regulation (EU) 2019/2088 SFDR
2022 – Regulation (EU) 2020/852 (EU Taxonomy)
2024 – Corporate Sustainability Reporting Directive (CSRD)
2024 – European Green Deal
2024 – Corporate Sustainability Due Diligence Directive (CSDDD)

2020 – Guide on climate-related and environmental risks (Voluntary)

2019 – ESMA Guidelines on Disclosure Requirements Applicable to Credit Ratings (Voluntary)

United States of America

Securities and Exchange Commission (SEC)

2022 – The Enhancement and Standardization of Climate-Related Disclosures for Investors

2022 – Public Company Cybersecurity
2022 – Pay versus Performance
2024 – US SEC Climate Guidance

2012 – The California Transparency in Supply Chains Act

2018 – SB 826 Corporate Board and Gender Diversity (Voluntary)
2023 – SB 253 and SB 261: California Climate Disclosure Rules

2021 – NASDAQ’S BOARD DIVERSITY RULE

2024 – New York’s SB S897C and SB 5437-  climate-related financial disclosure (proposed)

2024 -Washington’s SB 6092 Environment, Energy & Technology disclosure (proposed)

2024 – Illinois’ HB 4268 (proposed)

2024 – Minnesota’s SF 2744 (proposed)

1972 – Clean Water Act

1966 – Civil Rights Act of 1964 (EEO 1 Component 1 report)