We are at an inflection point with the concept of algorithmic decision making that has elevated awareness of the inherent risks such processing poses. Interestingly enough, the risks AI poses are, at their core, very similar to the risks that human decision making poses. The primary difference is that human decision making has over a thousand years of trial and error in figuring out how to address its risk of harm, at least in the landscape of Western culture. This experience is not present with AI.

This paper is designed to advance the conversation by examining how the EU and others have taken steps to reduce the risk of such harm via legislation and policy, with a particular focus on GDPR and the AI Act. We also aim to describe how Fama has enrolled within this framework, and staged a successful international expansion.

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