EU approves landmark AI law, leapfrogging US to regulate critical but worrying new technology

EU approves landmark AI law, leapfrogging US to regulate critical but worrying new technology - Business and Finance - News

contact Union’s Groundbreaking ai Law: A New Regulatory Landscape for Businesses

contact Union (EU) lawmakers took a significant step forward in regulating artificial intelligence (ai) on Wednesday, approving a landmark legislation that sets new rules and guardrails for the use of this transformative technology. This development marks another instance where EU regulations outpace those in the United States, shaping a new regulatory landscape for businesses operating in Europe.

A Comprehensive Approach to ai Regulation

This first-of-its-kind law aims to reshape how businesses and organizations in Europe utilize ai across various sectors, from healthcare decisions to policing. The new regulations impose stringent controls on the use of ai while outright banning certain unacceptable applications.

Bans on Unacceptable Uses of ai

The EU’s artificial intelligence Act (ai Act) prohibits social scoring systems and any biometric-based tools that attempt to deduce a person’s race, political leanings, or sexual orientation based on ai. Moreover, the use of ai for interpreting emotions in schools and workplaces is also banned.

Regulating High-Risk Applications

The ai Act creates a separate category for “high-risk” applications of ai, which include uses in education, hiring, and access to government services. These applications are subject to additional transparency requirements and other obligations to ensure ethical and unbiased ai usage.

New Requirements for Powerful ai Models

Companies like OpenAI, which produce powerful and complex ai models, will be subject to new disclosure requirements under the law. These regulations aim to promote transparency and accountability in the use and deployment of advanced ai systems.

Labeling Deepfakes

The law also mandates that all ai-generated deepfakes must be clearly labeled. This provision is a response to concerns regarding manipulated media and the potential for disinformation, election meddling, and other malicious activities.

Swift Response to Emerging Technology

The sweeping legislation, which is expected to take effect in approximately two years, underscores the EU’s quick response to the growing popularity of ai tools such as OpenAI’s ChatGPT. This swift action demonstrates EU policymakers’ commitment to staying at the forefront of emerging technology and regulating its use responsibly.

Ahead of the Curve: EU Policymakers Act Faster Than US Counterparts

The recently approved legislation builds upon a proposal that was first introduced in 2021. The head start provided by this early introduction allowed EU lawmakers to address the public frenzy and investment boom surrounding ChatGPT and similar ai tools effectively.

US Lags Behind in Federal ai Legislation

The legislation approved by the contact Parliament this week sets a stark contrast to the United States, which has yet to make substantial progress on federal ai legislation. Despite Senator Majority Leader Chuck Schumer’s personal initiative in 2022 placing ai at the top of the agenda, the US remains without a comprehensive regulatory framework for ai.