Finnish-Danish joint project develops tool to explain AI law

Finnish and Danish public and private entities are developing digital tools to explain the EU’s AI legislation, with the release expected this year.

A project led by the Finnish Innovation Fund Sitra is set to release tools to explain European Union artificial intelligence legislation by the end of this year. The tools will be delivered by Lean Entries through their regtech platform, Entries, and will be made available in English by the end of 2024. The project, comprising Finnish and Danish public and private entities, believes that while the legislative reforms aimed at regulating digital products, data usage, and artificial intelligence have good intentions, they may complicate operations.

– In this joint action and the Entries regtech, we see an opportunity to democratize regulation: to bring the capabilities of large corporations within the reach of SMEs (small and medium-sized enterprises). The market won’t wait for everyone to learn the hard way, says Ville Peltola, Head of Data and AI at Technology Industries of Finland, in the project’s press release.

Regtech (regulatory technology), according to Sitra and the press release, is a subfield of fintech aimed at enhancing regulatory compliance within financial institutions.

In addition to Sitra and Technology Industries of Finland, other partners in the project include Healthtech Finland, Danish Life Science Cluster, the Finnish Startup Community, Finnish AI Region (FAIR), HealthHub Finland, consultancy firm Lean Entries, Business Finland, and the European Digital Innovation Hub (EDIH).

Read the full press release here: Digital Tools to Explain the AI Act, Data Act and EHDS Regulation Released by a Finnish-Danish Joint Action by the End of 2024

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