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German Banking Industry CommitteeArtificial intelligence

Position on the current trilogue negotiations on the Artificial Intelligence Act

14.09.2023Comments
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The EU Parliament as well as the Council of the EU have prepared their own versions of the original draft published by the EU commission. Each of the three negotiating partners has now been trying to assert its respective position in the trilogue negotiations that have been going on since June 2023.

In general, the German Banking Industry Committee (GBIC) supports the objectives of the AI Act to promote the potential of artificial intelligence for European consumers, companies, and the EU economy as a whole. German banks and savings banks represented by the GBIC intend to play an active role in this because AI has great potential for the financial sector and enables financial institutions to develop innovative products for their customers.