A striking convergence is emerging between two of the world’s most influential artificial intelligence (AI) regulatory regimes. For businesses, particularly regulated financial institutions, the shift signals the emergence of a new enterprise AI governance challenge. The convergence between Europe and California also suggests that technical AI governance may become a de facto global compliance standard. Multinational organizations are unlikely to build separate AI transparency architectures for different jurisdictions. As AI adoption accelerates across financial services and other highly regulated industries, the convergence between EU and California transparency rules may offer an early glimpse of where enterprise AI regulation is headed next.