The European Union (EU) has recently proposed a new law called the Artificial Intelligence Act. This legislation aims to regulate the development and use of AI technology within the EU, with the intention of promoting innovation while ensuring the safety and protection of EU citizens.
The Act covers a wide range of AI applications, including high-risk systems such as those used in healthcare and transportation, and outlines specific requirements and obligations for developers and users of AI technology.
Some of the key provisions of the Act include mandatory risk assessments, transparency and accountability requirements, and strict rules around the use of biometric data. The Act is still in the proposal stage and must be approved by the European Parliament and Council before becoming law, but it represents a significant step forward in the regulation of AI technology in Europe.
Understanding the impact of the AI Act and knowing how to respond
Artificial Intelligence (AI) is revolutionizing society and businesses by providing new benefits and reshaping the workplace and key industries. The world is racing towards harnessing the transformative potential of AI and automation.
However, with the increasing adoption of AI in business and daily life, concerns about ethical use and risks are emerging. There are persistent trust issues, with three in five people expressing caution about AI systems in the Trust in Artificial Intelligence global study. As a result, 71 percent of people expect regulatory measures to be put in place.
The European Union (EU) has made significant progress by reaching a provisional agreement on the groundbreaking Artificial Intelligence Act (AI Act) in response to the increasing use of AI technology.
The AI Act is expected to set a new global standard for AI regulation and is envisioned to become law in 2024, with most AI systems required to comply by 2026. The AI Act adopts a risk-based approach to ensure the protection of fundamental rights, democracy, the rule of law, and environmental sustainability.
The EU's AI Act aims to balance fostering AI adoption while upholding individual rights for responsible, ethical, and trustworthy AI use.
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