EU Passes Groundbreaking Legislation To Regulate Artificial Intelligence
In a recent move, the European Union (EU) has introduced a new era of regulation for artificial intelligence (AI) with the approval of the Artificial Intelligence Act by the European Parliament. This new legislation represents the world’s first comprehensive attempt to address the various risks associated with AI technology.
The AI Act, which adopts a risk-based approach, aims to ensure that companies adhere to stringent standards before releasing AI products to the public. Specifically, it targets concerns such as AI hallucinations, the spread of deepfakes, and the use of AI to influence elections, highlighting the EU’s commitment to safeguarding against potential misuse of advanced technology.
Recognized by some as a significant step forward, the legislation has drawn criticism from others. Max von Thun, Europe director of the Open Markets Institute, has highlighted perceived shortcomings, including loopholes for public authorities and inadequate regulation of large foundation models. These foundation models, such as ChatGPT, are integral to various AI applications but may pose substantial risks if not properly governed.
Moreover, people have raised concerns regarding the potential for AI monopolies to emerge, amplifying existing power imbalances in the tech sector. The partnership between French startup Mistral AI and Microsoft has heightened these fears, prompting calls for greater vigilance from EU policymakers. Despite these challenges, supporters of the Act see it as a crucial step towards responsible AI development. Alex Combessie, CEO of French open-source AI company Giskard, views the legislation as a historic moment that will pave the way for a future where society harnesses AI responsibly.
Julie Linn Teigland, EY’s Europe, Middle East, India, and Africa (EMEIA) Managing Partner, emphasizes the importance of collaboration between the private sector and EU authorities in shaping the future of AI. She underscores the need for businesses to proactively prepare for compliance with the new regulations, recognizing their crucial role in driving innovation.
There is a great emphasis on staying informed about the evolution of AI because laws are known to be slow to catch up with new technology. Most importantly, there is an emphasis on building a positive mindset on ethical AI. The fundamentals of AI laws will protect users, their data, and any possible abuse of the technology, meaning that damages caused by AI can be prosecuted more smoothly following the new EU law standards, paving the way for a safer future.
Luis Apolo Staff Reporter
1. What did the EU introduce? What does it represent?
2. What is the aim of the AI Act? What does it target?
3. What are the criticisms of the AI Act?
4. How do supporters of the Act see the legislation?
1. What is your opinion on the AI Act?
2. How have deepfakes influenced elections?
3. What is a loophole? Explain with examples.
4. How can businesses use AI? What about people?
In a recent move, the European Union (EU) has introduced a new era of regulation for artificial intelligence (AI) with the approval of the Artificial Intelligence Act by the European Parliament. This new legislation represents the world’s first comprehensive attempt to address the various risks associated with AI technology.
