Understanding the Implications of the Digital Operational Resilience Act and AI Regulations for Companies
Thursday, 1 August 2024, 03:12
Introduction to EU Regulations
German companies are currently facing the implications of two significant EU regulations:
- Digital Operational Resilience Act (DORA): Effective from January 2024, this regulation enhances cybersecurity and risk management in the financial sector.
- AI Act: Recently passed in March, this legislation governs the use and deployment of artificial intelligence within the EU.
Key Takeaways for Companies
Understanding these regulations is essential for companies to improve their operational resilience and ethical practices:
- Enhancing cybersecurity measures to comply with DORA.
- Implementing best practices for AI technologies as outlined in the AI Act.
- Ensuring continual compliance to avoid penalties.
Conclusion
To thrive in a regulated environment, companies must navigate the complexities of DORA and the AI Act. By aligning their strategies with these regulations, businesses can not only achieve compliance but also seize opportunities to innovate and enhance their market position.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.