In August 2024, the European Union’s Artificial Intelligence (AI) Act came into force, aiming to balance safety and compliance with competitiveness, and setting the world’s first benchmark for a comprehensive AI regulatory framework. While the birth of AI can be traced back to the 1950s, the modern AI revolution swept through 2010s. According to an industry analysis report by Grand View Research, the global AI market value was estimated at US$196.63 billion in 2023. Massive investment in research and innovation driven by the world’s tech giants, as well as continuing advances in computational power and data availability are resulting in a proliferation of AI algorithms and models. As a result, the AI market value is expected to reach over US$1.81 trillion by 2030. Globally, there is widespread, rapidly escalating uptake of AI-driven tools, particularly in industries such as financial services, automative, manufacturing, retail and healthcare. Our founders have been in Ai sinve the early 80's.