As the use of technology becomes more prevalent in our day to
day lives, it is no surprise that firms in the financial services
sector are seeking to harness some of the benefits, that innovative
technologies like Artificial Intelligence (AI) and
distributed ledger technology (DLT) in fund
tokenization, can offer. With this in mind we will take a closer
look at the legal and regulatory environment associated with the
use of these technologies by Irish fund management companies
(FMCs) in the provision of their products and
services.
Artificial Intelligence
As readers may be aware, a new European regulatory framework was
developed to clarify the use of AI pursuant to Regulation (EU)
2024/1689 (EU AI Act) which came into force last
summer. This will be of particular interest for FMCs who may be
categorised as certain types of "operators" of AI under
the EU AI Act, such as "providers",
"deployers", "importers" and
"distributors" of AI. Once a FMC has assessed