Thursday, 18 July 2024
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Artificial IntelligenceEurope

Response to the EU’s historic agreement on the AI Act

  • AI regulations have been tentatively agreed upon by the European Union.
  • The success of AI depends on the EU putting more of an emphasis on innovation than regulation.
  • To safeguard people’s rights and keep up with the quick advancement of technology, the new regulation is crucial.

Artificial intelligence (AI) regulations, including those about ChatGPT and biometric surveillance, have been tentatively agreed upon by the European Union.

German MEP Svenja Hahn claims that the agreement, which was reached after 38 hours of negotiations, intends to protect rule of law principles in law enforcement and avoid overregulating AI innovation.

New AI regulation

A new AI regulation that aims to stop mass biometric surveillance has been approved by the European Union. Member states that desire the least amount of regulation in the use of biometric surveillance, however, are opposed to the agreement.

There are still many issues that need to be resolved in the regulation’s final wording. The success of AI depends on the EU putting more of an emphasis on innovation than regulation.c

A strong framework for identifying and reducing risks that could harm consumers and reduce businesses’ capacity to reap the rewards of their technological investments is offered by the European AI Regulation. It’s still too early to tell, though, exactly what new regulations might be required.

As AI promises to unleash a new wave of digital progress across all economic sectors, EU policymakers should concentrate on winning the innovation race rather than the regulation race.

In addition to safeguarding consumers from the risks associated with new technology, the regulation makes sure that AI systems are verifiable, transparent, and understandable.

Businesses that employ AI technologies will eventually need to explain decisions made using AI and offer details on how their systems operate. Additionally, the rights of consumers are reinforced, enabling consumer associations to file lawsuits against violators. To safeguard people’s rights and keep up with the quick advancement of technology, the new regulation is crucial.

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