EU Reaches Landmark Deal on World’s First Comprehensive AI Act

European Union officials have finalized a deal on the Artificial Intelligence Act. This creates the world’s first comprehensive set of rules for AI. The provisional agreement was reached after marathon negotiations in Brussels. It aims to regulate AI based on its potential risks and impact.The landmark legislation sets a global benchmark. It establishes clear requirements for AI systems used within the EU market. According to Reuters, the rules are designed to foster trust and safety while promoting innovation. This ends years of debate on how to govern the rapidly evolving technology.

What The New AI Rules Mean for Developers and Companies

The AI Act adopts a risk-based approach. Systems with minimal risk face light regulation. High-risk AI used in critical areas like healthcare will face strict obligations. These include rigorous testing and high-quality data sets.The most controversial AIs face outright bans. The law prohibits social scoring and AI that exploits vulnerabilities. It also bans real-time remote biometric identification in public spaces for law enforcement. There are limited exceptions for serious crimes.

Global Impact and Enforcement of the New AI Law

The new rules will have a major global impact. Any company offering AI services in the EU must comply. This includes major U.S. and Chinese tech firms. Non-compliance could lead to fines of up to 7% of global turnover.The law establishes a new European AI Office. This body will oversee the development of the most powerful AI models. National authorities will monitor the implementation of the rules. The law is expected to fully apply in 2026.

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The EU AI Act sets a crucial precedent for the responsible development of artificial intelligence worldwide. This comprehensive framework balances innovation with fundamental rights, marking a new era of tech governance.

Thought you’d like to know

What is considered ‘high-risk’ AI under the new law?

High-risk AI includes systems used in critical infrastructure, medical devices, and education. It also covers AI for employment, essential services, and law enforcement. These applications must meet strict safety and transparency requirements.

When will the AI Act officially become law?

The provisional deal now needs formal approval from the European Parliament and Council. This process is expected to be completed in early 2024. The rules will then be phased in over the next two years.

Does the law address generative AI like ChatGPT?

Yes, the act includes specific rules for generative AI. Foundational models must be transparent about their training data. They also must summarize copyrighted material used during their training. This is a key part of the new regulations.

How will this affect AI companies outside of Europe?

Any company offering AI products or services in the EU market must comply. This gives the law a significant global reach. It is similar to the impact of the EU’s General Data Protection Regulation (GDPR).

What are the penalties for violating the AI Act?

Fines can be substantial for non-compliance. They can reach up to 35 million euros or 7% of a company’s global annual turnover. The exact amount depends on the infringement and the size of the company.