Two significant regulatory initiatives are currently underway in Colombia, aimed at strengthening the protection of rights within digital environments. On one hand, the draft bill titled “By which artificial intelligence is regulated to ensure its ethical and responsible development” seeks to establish a legal framework for the use of artificial intelligence in key sectors such as health, education, and security. This initiative promotes technological innovation while also proposing measures to mitigate the risks associated with large-scale personal data processing, including impact assessments and transparency requirements.
On the other hand, the draft regulation “Guidelines on the processing of personal data in the Fintech ecosystem and in business models, applications, and processes that use technological means to provide financial services” sets out specific directives for data controllers and processors operating in the Fintech sector. The proposal strengthens the protection of users’ financial information and is currently open for public consultation from May 7 to May 21, 2025, encouraging active participation from the industry in its development.
