EU's AI Act Paves Global Path, Sets Legal Benchmark.

Published Date: 2/08/2024

The EU AI Act, first drafted in 2021, has officially entered into force, setting a new standard for AI regulations worldwide.

he European Union's Artificial Intelligence (AI) Act has officially entered into force, marking a significant milestone in the regulation of artificial intelligence. This groundbreaking legislation is the first of its kind in the world and is expected to serve as a global standard for AI regulations.

The European Commission first drafted the EU AI Act in 2021, with the goal of creating a harmonized framework for AI across EU member states. After undergoing amendments by the European Parliament and the Council, the final version of the act, Regulation 2024/1689, was published in the Official Journal of the European Union on July 12, 2024.

The EU AI Act categorizes AI applications into four risk levels. Minimal risk applications, such as videogames or spam filters, are permitted and not regulated by the act. Limited risk applications, which require transparency, are governed by the act to inform users about their interaction with AI technology. High-risk systems, including medical devices and AI used in transport or recruitment, are subject to strict criteria to access the EU market. Unacceptable risk applications, which pose a threat to people's safety, livelihoods, and individual rights, are banned entirely.

The act's regulatory framework is founded on the values of human dignity, rule of law, and respect for human rights, as enshrined in the Charter of Fundamental Rights of the European Union. The EU aims to promote an 'ethical and human-centric approach' to AI technology.

According to European Commission President Ursula von der Leyen, the act creates 'new guardrails' to protect people and their interests while providing businesses and innovators with clear rules and certainty. The EU AI Act also seeks to promote investment and innovation in AI within the EU and facilitate the development of a single market for AI applications.

The regulations proposed in the EU AI Act will be applied gradually to technologies involved in the European market over a period of two years. As the first legislation of its kind, this act may serve as a global standard for AI regulations in other jurisdictions worldwide.

FAQS:

Q: What is the EU AI Act?

A: The EU AI Act is a legislation that regulates artificial intelligence in the European Union, setting a new standard for AI regulations worldwide.

Q: When did the EU AI Act enter into force?

A: The EU AI Act officially entered into force on July 12, 2024.

Q: What are the four risk levels of AI applications categorized by the EU AI Act?

A: The EU AI Act categorizes AI applications into four risk levels: minimal risk, limited risk, high risk, and unacceptable risk.

Q: What is the goal of the EU AI Act's regulatory framework?

A: The EU AI Act's regulatory framework aims to promote an 'ethical and human-centric approach' to AI technology, founded on the values of human dignity, rule of law, and respect for human rights.

Q: How will the EU AI Act impact businesses and innovators?

A: The EU AI Act will provide businesses and innovators with clear rules and certainty, promoting investment and innovation in AI within the EU and facilitating the development of a single market for AI applications.

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