The past year saw increased global government scrutiny of AI technologies and building regulatory momentum as proposed AI-focused laws and regulations matured. Numerous proposed regulations were enacted,[1] but many stalled, underscoring the complexity inherent in regulating the increasingly crowded and fast-developing field of AI systems and tools. In the fourth quarter of 2022, the first major AI regulation, the EU’s landmark Artificial Intelligence Act (“AI Act”), navigated some key hurdles on the path to becoming law and is widely expected to set a critical precedent for future risk-based regulatory approaches beyond Europe.[2] There is (still) no comparable governance framework on the horizon in the U.S., but policymakers took tentative steps towards articulating a rights-based regulatory approach with the Biden administration’s “Blueprint for an AI Bill of Rights.” Meanwhile, the patchwork of proposed and enacted state and local laws and regulations that either target or incidentally apply to AI systems continue to create compliance challenges for companies across the U.S.

Looking ahead, we anticipate that both the U.S. and EU will reach major policy milestones in 2023. In January 2023, the National Institute of Standards and Technology (NIST) will release its long-awaited AI Risk Management Framework 1.0, a voluntary set of standards to help incorporate trustworthiness considerations into the design, development, use, and evaluation of AI products, services, and...

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