In this edition of the Neural Network, we look at key AI developments from July and August 2024. In regulatory updates, the EU AI Office launched a consultation on trustworthy general-purpose AI models, the European Commission published updates to its AI Act Q&A page, and the European Data Protection Board adopted a statement on data protection authorities' role in the AI Act framework. In AI enforcement and litigation news, the US Federal Trade Commission, US Department of Justice, the UK Competition and...

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The sums required to meet global challenges like mitigating climate change and strengthening financial-market stability far exceed available public funding. Attracting voluntary private investment, however, will require the development of a menu of innovative financial instruments. WASHINGTON, DC – No one doubts that many of the world’s biggest challenges – such as mitigating climate change, strengthening financial-market stability, and boosting economic growth in developing and emerging economies – are deeply intertwined. Multilateral cooperation will thus lead to better outcomes than...

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By Ian Hunter | Approaching its second anniversary, the Inflation Reduction Act (IRA) has emerged as a surprising boon for red states, driving a surge of green energy investments into traditionally conservative regions. In just two years, the Inflation Reduction Act has channeled over $50 billion into red states, revolutionizing local economies. This transformative legislation has not only reshaped the clean energy landscape but also sparked a wave of foreign direct investment (FDI), revitalizing local economies across the United States. ...

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In July 2021, the European Commission introduced a package of legislative proposals aimed at combating money laundering. These proposals signalled a significant expansion of transparency obligations related to Know Your Customer processes (KYC-processes) and national transparency registers (see our article from 26 July 2021). Since, an agreement on an EU anti-money laundering package has been reached. This new EU anti-money laundering package includes a series of measures by the EU legislature to harmonise anti-money laundering and counter-terrorism financing laws across...

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