Technology

Vero AI Publishes Report Identifying Trends in AI and Data Privacy Legislation, Supporting Enterprises in Compliance Planning

Published

6 months ago

June 26, 2024

Emerging AI regulations signal non-negotiable guidelines for businesses, underscoring the need to act proactively to mitigate bias and ensure return on AI investment

CHAPEL HILL, N.C., June 26, 2024 /PRNewswire/ — Vero AI, a first-of-its-kind analytical engine and scoreboard that helps enterprises fully harness the potential of advanced technology including artificial intelligence while minimizing risk, today released a first-of-its-kind industry-agnostic report, Regulating the Future: Responsible AI Legislation Trends and Predictions on key trends in current and emerging artificial intelligence (AI) legislation. The report emphasizes the need for businesses to stay abreast of regulatory changes to maintain compliance, foster responsible AI practices, and routinely conduct assessments to ensure ongoing adherence to standards.

To help enterprises navigate the evolving landscape of AI and data privacy regulations, the report shares an extensive review and analysis of 70 state and federal regulations, dating from September 2018 to May 2024. Vero AI’s in-depth analysis highlights common themes in both existing and emerging legislation, including the need for data transparency, documentation of AI safety and security to ensure fair and unbiased AI use, full disclosure of model limitations, and user consent revocation.

“With AI’s rapid development and adoption, organizations must understand both its business value and associated risks, especially as legislation evolves,” said Eric Sydell, PhD., CEO and co-founder, Vero AI. “While some business leaders worry these guidelines will stifle innovation, our report shows that most legislation centers on data privacy, transparency and accountability, and the protection against bias of specific classes. For companies already practicing responsible AI, compliance should not be burdensome, and adhering to these principles will promote user trust and reliability on the road to deployment success.”

It’s time for organizations to sharpen their focus on AI legislation
AI regulations are quickly being introduced across various states, signaling to U.S. businesses that accountability for their AI systems is imminent no matter where they reside. On top of state-level laws, federal initiatives like the drafted American Privacy Act of 2024 could impact businesses nationwide. Non-compliance with legislation can lead to hefty fines and penalties as well as reputational damage. But at the pace that these laws are changing, it’s not enough to comply with existing laws; businesses need to stay ahead of them.

Navigating the evolving landscape of AI and data privacy legislation
According to the report, existing legislation is mainly focused on protecting individuals and users, especially concerning personal data. The main trends in current AI-related legislation include:

Control Over AI Interactions: Legislation emphasizes empowering individuals with control over their interactions with AI systems.Fairness and Safety: Ensuring AI systems are fair, non-harmful, and equipped with built-in protections is a legislative priority.Transparency and Access: Organizations must provide access to detailed system information, ensuring transparency in AI operations.User Data Autonomy: Users should have the power to decide the fate of their data, with clear consent requirements for data collection, and it must be purpose-specific and limited to what is necessary.Informed Consent: Obtaining informed user consent is a fundamental requirement.

Looking at the future AI regulatory landscape, there is significant overlap between current regulations and those still in development; however, ensuring model fairness, providing thorough documentation of system limitations, and communicating clear safety protocols are expected to become even more critical. Additionally, providing safeguards against AI-induced harm and bias will be essential for meeting compliance requirements while also building trust with users.

To stay ahead in this rapidly evolving regulatory environment, organizations must:

Conduct regular impact assessments for bias and data privacy effectiveness.Enhance transparency measures around data collection and model limitations.Maintain detailed documentation on model safety and security protocols.Allow users to revoke consent just as they ask for consent.Ensure fairness and bias-free systems through proactive mitigation efforts.

As Vero AI’s report highlights, the urgency for AI compliance is undeniable. With over 40 states in the U.S. considering hundreds of AI regulation bills, businesses must act fast to comply with existing laws but also proactively prepare for future legislative requirements. The most effective approach for both is through continuous testing and monitoring of their systems, guided by principles that prioritize transparency, accountability, and responsible standards while ensuring effective implementation.

A full version of Vero AI’s Legislative Trends Report can be found at http://www.vero-ai.com/resources/regulating-the-future.

About Vero AI
Vero AI’s platform is a first-of-its-kind analytical engine and scoreboard built to help enterprises fully harness the potential of AI algorithms and tools while minimizing risk. Through its scientifically derived, AI-assisted platform and objective framework, The VIOLET Impact Model, Vero AI ingests information of all types and creates meaningful, interpretable, reliable scores that allow users to know whether their existing AI tools, algorithms, or any complex system is functioning across a range of curated, holistic criteria. Vero AI sets a new standard for AI optimization and risk mitigation at scale, empowering enterprises to thrive in an era defined by technological innovation and disruption. To learn more visit https://www.vero-ai.com/.

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SOURCE Vero AI

Technology

Lichen China Limited Announces $2.8 Million Registered Direct Offering

Published

56 minutes ago

December 26, 2024

XIAMEN, China, Dec. 26, 2024 /PRNewswire/ — Lichen China Limited (Nasdaq: LICN) (“Lichen China” or the “Company”), a dedicated financial and taxation service provider in China today announced that it has entered into a definitive agreement with several investors for the purchase and sale of an aggregate of 20,000,000 of the Company’s Class A ordinary share, par value $0.00004 per share (the “Shares”) (or pre-funded warrants in lieu thereof) at a purchase price of $0.14 per share in a registered direct offering. The purchase price for the pre-funded warrants is identical to the purchase price for Shares, less the exercise price of $0.001 per share.

The aggregate gross proceeds to the Company of this offering are expected to be approximately $2.8 million. The transaction is expected to close on or about December 27, 2024, subject to the satisfaction of customary closing conditions.

Univest Securities, LLC is acting as the sole placement agent.

The registered direct offering is being made pursuant to a shelf registration statement on Form F-3 (File No. 333-277230) previously filed by the Company and declared effective by the U.S. Securities and Exchange Commission (“SEC”) on March 1, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying base prospectus will be filed by the Company and, upon filing, can be obtained at the SEC’s website at www.sec.gov.

About Lichen China Limited

Lichen China Limited focuses on providing financial and taxation solution services, education support services, and software and maintenance services under its “Lichen” brand. In recognition of the Company’s expertise and experience in the financial and taxation solution services industry for over 18 years, the Company has built up its reputation as a dedicated financial and taxation solution services provider of professional and high-quality services in China. For more information, please visit the Company’s website: https://ir.lichenzx.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

Tian Sun
Phone: +86-0592-5586999
Email: ir@lichenzx.com

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SOURCE Lichen China Limited

Technology

Elvis Birthday Celebration tour kicks off at the Miniaci Performing Arts Center January 5th

Published

2 hours ago

December 26, 2024

This January 8th would have been the King’s Birthday. Gone but never forgotten, his image, music, films and memories live on as a testament to his true effect and influence on his generation and future generations to come. Keeping the memory alive at countless venues throughout the country, Chris MacDonald lovingly shares the magic of the “King of Rock-n-Roll” with his full production tribute Memories of Elvis Rockin Birthday Bash

FORT LAUDERDALE, Fla., Dec. 26, 2024 /PRNewswire-PRWeb/ — Elvis Presley Birthday Celebration Florida Tour kicks off at the Miniaci Performing Arts Center at Nova Southeastern University Davie Campus on January 5th with Chris MacDonald’s Memories of Elvis Rockin Birthday Bash, a multi-media full production tribute celebrating the life and music of the King of Rock-n-Roll.

“Adding to the authenticity of his tribute, Chris has the honor of being the only tribute artist hired by Elvis Presley Enterprises to perform at Graceland’s Heartbreak Hotel.”

This January 8th would have been the King’s Birthday. Gone but never forgotten, his image, music, films and memories live on as a testament to his true effect and influence on his generation and future generations to come. The original American Rock-n-Roll Idol who influenced the Beatles, The Rolling Stones and anyone that has ever picked up a guitar or a microphone since, continues to engage our love affair with his all American story of a shy poor and humble country boy that became the King of Rock-n-Roll. Elvis Presley, recognized by TIME magazine as the “Artist of the 20th Century,” has sold more records than any other artist or group in the history of modern music. Even after death, his image and music continue to be loved and celebrated throughout the world. With the critically acclaimed big screen biopic “Elvis” by director Baz Luhrmann starring Austin Butler as Elvis and Tom Hanks as Colonel Tom Parker, Elvis’s music and charisma are once again in the spotlight for a whole new generation and there’s no sign of the King leaving the building of Rock-n-Roll icon status.

Keeping the memory alive at countless venues throughout the country, Chris MacDonald lovingly shares the magic of the “King of Rock-n-Roll” with his full production tribute Memories of Elvis. Chris’s show is not an overdone impersonation. It is a natural heartfelt tribute to a legendary performer and music icon. With his dynamic production band, Chris MacDonald draws his audience in with the look, sounds, and nuances that made Elvis the King of Rock-n- Roll!

Adding to the authenticity of his tribute, Chris MacDonald has the honor of being the only tribute artist hired by Elvis Presley Enterprises to perform at Graceland’s Heartbreak Hotel. An energetic and experienced entertainer, MacDonald has also starred in the famous “Legends in Concert” stage productions and has performed in Branson, MO, and Las Vegas, NV. Chris has also performed in Concert with Elvis Presley’s original back up group The Jordanaires and D.J. Fontana Elvis original drummer “The Beat Behind The King” at the famous Seminole Hard Rock Live Concert Venue in Hollywood Florida and other venues throughout the country.

With this newly updated production, the show will include costume changes and songs representing the different stages of Elvis’s incredible career including the 1950′s, the Movies, the 1968 Comeback and the 1970′s White Fringe Vegas Concerts. It’s all a part of this fun loving tribute to one of the greatest entertainers of all time.

Get “All shook up” and celebrate the life and music of the King of Rock-n-Roll with Chris MacDonald’s Memories of Elvis Rockin Birthday Bash.

Florida Tour Dates:

January 5, 2025 2pm (Sunday)

Rose and Alfred Miniaci Performing Arts Center

Nova Southeastern University

3100 Ray Ferrero Junior Boulevard,

Davie, FL 33314

Box Office: 954-462-0222

https://www.miniacipac.com/events/detail/chris-macdonalds-memories-of-elvis-rockin-birthday-bash-2025

January 16, 2025 7:30 pm (Thursday)

Barbara B Mann Performing Arts Hall

Southwestern State College

13350 FSW Parkway, Fort Myers, FL 33919

Box Office: 800-440-7469 • 239-481-4849

https://www.bbmannpah.com/events/detail/chris-macdonalds-memories-of-elvis-2025-fort-myers

January 18, 2025 7:30 pm (Saturday)

Sunrise Theatre

117 S 2nd Street, Fort Pierce, FL 34950

Box office: 772-461-4775

https://www.sunrisetheatre.com/shows/memories-of-elvis-rockin-birthday-bash/

Media Contact

Donna Oz, CME Inc, 1 954341-6005, info@chrismacdonaldselvis.com, https://www.elvispresleystory.com/

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SOURCE CME Inc; CME Inc

Technology

VIVOTEK Wins Double Honors for Its Commitment to Sustainability

Published

3 hours ago

December 26, 2024

TAIPEI, Dec. 26, 2024 /PRNewswire/ — VIVOTEK (3454-TW), the global leading security solution provider, has once again demonstrated its outstanding commitment to sustainability. Participating for the first time in the 17th Taiwan Corporate Sustainability Awards (TCSA), VIVOTEK emerged victorious, earning the Sustainability Report Award for the Information, Communication, and Broadcasting Industry and the Taiwan Corporate Sustainability Excellence Award. These recognitions showcase VIVOTEK’s remarkable success in corporate governance, environmental protection, and social responsibility, affirming its dedication to sustainable growth.

Pioneering Sustainability with Dual Recognition

“For over seven years, VIVOTEK has independently published sustainability reports, actively driving and disclosing our internal sustainability initiatives.” said Allen Hsieh, VIVOTEK’s Spokesperson and Director of the Global Marketing Division. “These awards not only recognize our integrity and efforts in presenting operational performance, environmental data, and social impact but also serve as a strong motivation for us to continue advancing on the path of sustainable development.”

Driving Sustainability through AI Innovation

VIVOTEK delivers advanced AI-powered security solutions built on cutting-edge AI and edge computing technologies. Beyond innovation, the company drives green initiatives, reduces its carbon footprint, and fosters a sustainable, supportive workplace.

Committed to social responsibility, VIVOTEK leads the security industry’s sustainability efforts through its ‘Safety Map’ initiative. For four years, employees have formed security teams to enhance safety in neighborhoods, care centers, and schools with on-site assessments and improvement plans.

In 2024, VIVOTEK will expand its efforts to Hualien’s Dacheng Village, where it will help improve local safety environments and support cultural preservation and tourism revitalization. These actions reflect its dedication to sustainability, community well-being, and lasting societal contributions.

Security Sustainability as a Foundation for Social Impact

VIVOTEK proudly received two prestigious honors at the Taiwan Corporate Sustainability Awards, highlighting its dedication to sustainable practices. These accolades inspire the company to deepen its internal efforts and mark the start of an exciting new chapter.

Building on this achievement, VIVOTEK aims to strengthen its mission of becoming the world’s most trusted smart security brand. By aligning with global market needs and fostering collaboration with customers, partners, and employees, VIVOTEK is committed to shaping a sustainable future founded on mutual trust and shared success.

To learn more about VIVOTEK’s sustainability initiatives, please refer to the 2023 Sustainability Report.

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SOURCE VIVOTEK Inc.