Raadhika Sihin

The EU AI Act with its pioneering risk-based approach, sets a precedent for regulating AI by categorising applications based on their potential risks to individuals and society. By establishing clear guidelines for high-risk AI systems whilst imposing outright bans on some risks like social scoring, the Act seeks to balance ethics with AI development. However, stringent regulations risk presents some trade-offs, like having high compliance burdens for SMEs and startups, which can stifle innovation, pushing talent and investment to more business-friendly AI regions, and limiting Europe’s AI leadership.

1. Navigating the EU AI Act: How can regulators ensure the EU remains an AI leader while implementing risk-tiered regulations that prevent harm without stifling technological progress?
2. Competitiveness vs Overregulation: With global AI competition intensifying, what policy strategies can ensure that AI startups and enterprises thrive without unnecessary compliance burdens?
3. Ethical AI as a competitive advantage: Can responsible AI practices become a strategic differentiator for European companies, positioning them as global leaders in trustworthy, human-centric AI deployment?

As AI adoption accelerates globally, governments in the global south are shaping data regulations to govern its development and use. The EU and GDPR have set global benchmarks for responsible AI governance, but do these frameworks guide or constrain adoption of AI in the Global South? Should stringent AI governance frameworks be replicated, adapted or reimagined for emerging markets?  How do these policies impact SMEs, startups and institutions broadly, given compliance costs, regulatory capacity and skills gap.

1. How can policymakers and businesses in the Global South balance AI expansion with consumer rights, economic growth, and local challenges such as digital literacy and limited AI infrastructure?
2. Can a risk-based approach to AI regulation ensure ethical deployment without stifling local innovation?
3. SMEs are key to job creation. How can governments introduce scaled compliance to encourage SME growth whilst balancing accountability
4. Are regional data sharing agreements the way to go, balancing sovereignty of data and facilitating regional trade and growth

This roundtable serves as the first part of a discussion that will be followed up at the Global SME Finance Forum 2025 in South Africa. Part 2 can consider including the practical voice of SMEs and their challenges. Presenters will also be invited to participate in Part 2 in South Africa.

Global payments sit at the heart of the financial system — connecting businesses, people, and economies across borders. But currently, they’re often too slow, too expensive, and too complex, especially for small businesses and developing markets. At the same time, the landscape is shifting fast: instant payment systems, stablecoins, and new global standards are all reshaping the way money moves.

This panel brings together leaders who are directly shaping that future — to explore how policymakers, regulators, and international bodies like the BIS can work together to build a faster, safer, and more inclusive global payments ecosystem.