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Next Move: Practical insights on regulatory and policy developments in technology
Building trust in technology is complex work. Regulators and policymakers — keen to build new guardrails for a digital society — stand on largely unfamiliar ground. They often take different, sometimes contradictory, approaches because they have different missions and visions. At the global level, regulatory divergences reflect profoundly different value systems.
Through Next Move, PwC's monthly publication, we provide context to policy and regulatory developments in technology and offer guidance on how organizations can adapt.
In the April edition, we cover three tech developments:
- White House limits bulk data transfers to foreign adversaries
- DORA technical standards fill key gaps on what's required
- Cloud IaaS providers face know-your-customer requirements
White House limits bulk data transfers to foreign adversaries
The Biden administration issued an executive order restricting access to sensitive US data by "countries of concern.” The order seeks to protect privacy and national security by setting stringent limits on the collection, processing and cross-border transfer of bulk sensitive data. Affected companies should accelerate their data-localization plans in these countries.
DORA technical standards fill key gaps on what's required
EU authorities finalized the first of two sets of technical standards implementing the Digital Operational Resilience Act (DORA), providing much-needed direction to industry. US businesses with ties to the EU financial services sector — whether they’re financial entities or critical service providers — now have a detailed roadmap for achieving operational resilience under DORA.
Cloud IaaS providers face know-your-customer requirements
The Bureau of Industry and Security (BIS) proposed sweeping customer-identification and reporting requirements for US cloud companies that offer infrastructure-as-a-service (IaaS). The proposal aims to address the security risk posed by IaaS transactions with certain foreign customers and resellers. Affected companies should assess their potential exposure and prepare to comply.
Read our special editions on Artificial Intelligence
Next Move Special Edition: White House mobilizes bold push for responsible adoption of AI
In October, the Biden administration issued its long-awaited executive order on artificial intelligence (EO on AI) — a big step towards defining how the fast-moving technology will be used and regulated.
The EO calls for new standards, funding, training and enforcement to mitigate AI risks, while also paving the way for widespread adoption. To prepare, companies must understand the EO’s potential direct and secondary impacts, identify gaps and opportunities and address risk.
Special Edition: EU’s AI Act advances, sparking a race to readiness
EU member state representatives unanimously approved the AI Act, setting the stage for its formal adoption in April. The approved language reflects a range of new provisions hammered out since the December compromise agreement. Providers, deployers, importers and distributors of AI systems in the EU market should begin preparing for compliance now.
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