SWITZERLAND Trends and Developments Contributed by: Hugh Reeves, Jürg Schneider and David Vasella, Walder Wyss Ltd
Private actors have also issued rules for them - selves in the meantime. On 18 December 2024, FINMA published its Guidance 08/2024 – Gov - ernance and risk management when using AI, and numerous private companies have also issued or are in the process of issuing guide - lines, codes and instructions, some of which are public and some of which are not. At the end of 2023, the Federal Council commis - sioned DETEC to explore possible approaches for regulation within the framework of the Inter - departmental Coordination Group on EU Digital Policy, by the end of 2024. Based on this man - date, on 12 February 2025, DETEC and the Fed - eral Department of Foreign Affairs (FDFA) pre -
sented an overview to the Swiss Federal Council of possible regulatory approaches to AI. On the basis of this overview, the Swiss Federal Coun- cil has decided on a Swiss regulatory approach for AI based on three objectives: strengthen - ing Switzerland’s location for innovation; safe - guarding the protection of fundamental rights, including economic freedom; and increasing public trust in AI. To achieve these objectives, the Swiss Federal Council has set the follow - ing key steps for the future: incorporation of the Council of Europe’s AI Convention into Swiss law; sector-specific legislation as far as required (cross-sector regulation, to be limited to central areas relevant to fundamental rights); and non- binding measures.
292 CHAMBERS.COM
Powered by FlippingBook