In 2024, the EU adopted the AI Act, aiming to foster trustworthy AI in Europe and introducing the first-ever comprehensive legal framework in the region. The EU AI Act establishes a risk-based approach by which AI systems can be classified according to different levels of risk (unacceptable, high risk, limited and minimal risk).

EFAMA aims to support its members in being innovators on the digital front, promoting the responsible adoption of new technologies such as AI, which will allow asset management firms to deliver better services and solutions while building confidence and trust in our industry. To this end, EFAMA helps its members navigate AI complexity, provides guidance on implementing the new obligations under the AI Act (as well as interdependent EU regulations), and promotes ethical and responsible AI practices.

🔧 EFAMA's AI-System Assessment Tool

In 2025, we launched the AI-System Assessment Tool, a free, publicly available resource developed by EFAMA’s AI Task Force together with EFAMA member experts from across the asset management industry, to support firms navigating the EU AI Act and the broader AI compliance landscape. The tool supports firms of all sizes navigate the regulatory complexities of AI. It has proven useful for professionals across many different geographies, sectors, firm sizes, and job descriptions, with 506 downloads across 31 countries (both within and beyond Europe) as of March 2026.