Digitalisering möter juridik, tvåmotpoler i sömlöst samspel - en utopi? : En analys om konsekvenserna av AI-förordningen och DORA-förordningen på digitalisering inom finansiell sektor, och om regelverken motverkar sina ändamål

Sammanfattning: A fourth industrial revolution characterizes the development of society due to digitalization, where the use of data and technology has had a major impact on society. Digitalization replaces analog solutions with digital solutions which results in benefits such as efficiency in time, costs, work, and processes. Companies strive for digitalization to be able to take advantage of the benefits from the efficiency gains. In the financial sector, companies have implemented digitalization early on, where large parts of company’s operations have been digitalized. Companies within this industry also have the financial capability to proceed with digitalization. However, risk arises in parallel with the benefits of digitalization. There is a risk that fundamental rights are overruled because of digital solutions, such as computers, machines, or automated technology like artificial intelligence, taking over all or part of a human's work. Simultaneously, there is a risk that IT and cyber-attacks from external actors increases as society digitalizes and becomes more dependent on IT use and digital solutions. Consequently, there is a conflict between the desire and the market's need to improve efficiency through digitalization, and the risk of fundamental rights being overruled and the exposure to various types of vulnerabilities such as cyber-attacks or an all too heavy reliance on digital technology. To mitigate the risks, the EU Commission has produced proposals for two regulations, which are the AI-act and the DORA-act. The AI-act aims to protect fundamental rights, while the DORA-act aims to increase operational resilience and cyber resilience within the financial sector. Both regulations aim to create uniform, harmonized and comprehensive regulation in the area. This thesis intended to investigate and analyze the consequences of the increased regulatory requirements, with the AI-act and the DORA-act, on digitalization including automation in the financial sector to assess the effectiveness of the regulations. In conclusion the regulations will not hinder digitalization per se. Instead, digitalization within the financial sector will be affected extensively in a negative way. This is mainly since certain digitalization-projects will be prevented in part or in whole because of the requirements put in by the regulations. The requirements will in practice be difficult, and in some cases impossible, to achieve. This thesis concludes that the regulations can act counterproductively due to the regulations structure, writings, and high requirements. This results in a challenge for a practical possible application of the regulation which, in summary, may defeat the purpose of the increased regulatory requirements.