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With a CAGR of up to 11%, the market is expected to grow to almost $8 billion by 2026. For the time being, increasing regulation and scrutiny of sensitive data make banking, financialservices, and insurance (BFSI) the fastest-growing segment of the DFS market. billion in 2020.
Impact Assessments Any employers or developers using or developing automated decision tools, by January 1, 2026, will be required to perform annual impact assessments.
For high-risk AI systems and AI systems subject to transparency obligations, obligations begin to apply from 2 August 2026 (with fines of up to 3% annual worldwide turnover). These methods are commonly used for underwriting (including for life and health insurance) and for consumer credit risk and scoring. The examples at 5.2
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