EU Parliament passes landmark AI Act
The European Union parliament has approved the AI Act, which will introduce a regulatory framework that categorizes artificial intelligence apps based on their risks.
The European Union parliament has approved the AI Act, which will introduce a regulatory framework that categorizes artificial intelligence apps based on their risks.
While critics think that the European Union is over-regulating again with its AI Act, others see this as an advantage but admit that the rules may need to be updated in line with future AI developments.
Italy, as the new G7 president, prioritizes AI regulation for industry innovation, with Prime Minister Giorgia Meloni planning a dedicated session before the G7 summit to establish cohesive regulations.
The European Union is one of the first movers in its attempt to shape the global landscape of artificial intelligence governance with the recent agreement that the 27-nation bloc reached on the AI Act.
Legislators in the European Union reached an agreement on the Artificial Intelligence Act, which aims to ensure that "fundamental rights, democracy, the rule of law and environmental sustainability are protected from high-risk AI."
Under ASEAN, the region has proposed a framework that only provides guardrails for artificial intelligence, leaving the nuances to the national regulators and the AI developers.
The European Union plans to lead in AI regulation with its AI Act, but industry stakeholders express concerns over stifled innovation and potential migration to less-restrictive jurisdictions.
Massachusetts has launched a formal investigation into the application of artificial intelligence in securities, focusing on potential conflicts of interest and safeguarding investor interests.
While the European Union and Japan have pledged to work together on AI, the latter wants to emulate United States’s soft approach to foster the progress of the local AI industry.
While the European Union’s AI Act will be voted on this month, tech chief Margrethe Vestager says more immediate action is required to rein in AI as adoption spikes.
Two committees in the European Parliament voted for the amended AI Act to crack down on biometric surveillance, emotion recognition, and predictive policing.