The European Parliament has granted final approval to the EU’s Artificial Intelligence Act, marking a significant milestone in global AI regulation. Passed after five years of deliberation, the Act aims to steer AI development towards a human-centric approach, ensuring human control over the technology for societal progress and economic growth.
The law classifies AI applications according to risk levels, imposing more stringent regulations on high-risk applications, including vital infrastructure and medical devices. Companies must adhere to voluntary standards and codes of conduct, while certain AI applications, like social scoring systems and predictive policing, are outright banned due to their perceived risks.
The EU’s regulatory framework sets a precedent for other nations grappling with AI governance. While the U.S. is drafting its own AI legislation under President Joe Biden, China has introduced interim measures for managing AI, emphasising fair and safe use. Brussels’ initiative emphasises its leadership in shaping global AI governance, urging other governments to follow suit in ensuring responsible AI deployment.
The AI Act signifies a shift towards proactive regulation in the face of rapidly advancing technology, reflecting the EU’s commitment to safeguarding consumer interests and fundamental rights. By providing a comprehensive framework for AI governance, the EU aims to foster innovation while mitigating the potential risks associated with AI proliferation.
