/regulation & compliance

News and resources on regulation, compliance, legal and governance issues for banks and fintechs.
ChatGPT's AI privacy concerns the subject of new EU taskforce

ChatGPT's AI privacy concerns the subject of new EU taskforce

The European Data Protection Board (EDPB), a body of Europe’s national privacy watchdog, has formed a ChatGPT taskforce to establish privacy guidelines on the AI platform.

The announcement trails Italy’s temporary ban of ChatGPT over concerns of data breaches and privacy. Germany’s data protection commissioner followed the announcement with a statement indicating that they could follow suit. On Thursday, the Spanish Data Protection Authority (AEPD) announced that they would conduct an investigation into the privacy breaches by the AI tool. Commission Nationale de l’Informatique et des Libertés (CNIL), the French regulator recorded five complaints on ChatGPT reporting invasions into personal data, one of which came from an MP.

ChatGPT has amassed over 100 million monthly users worldwide since its launch in late 2022. The AI chatbot went viral for speedily answering questions on a wide range of topics, and like all AI technology, it gets smarter with every user interaction. Governments are concerned that the tool is a threat to privacy, safety, and job security.

A statement by the EDPB read: "The EDPB members discussed the recent enforcement action undertaken by the Italian data protection authority against OpenAI about the ChatGPT service. The EDPB decided to launch a dedicated task force to foster cooperation and to exchange information on possible enforcement actions conducted by data protection authorities."

The step by the EDPB marks a movement towards strengthening privacy policies when it comes to artificial intelligence.

Companies have been reacting differently to ChatGPT, with JP Morgan banning the tool for their employees and Klarna plugging it in for shopping recommendations.

Comments: (0)

Trending