EU Navigates Uncharted Waters with Comprehensive AI Regulation Deal
EU lawmakers have achieved a significant milestone by reaching a political agreement on regulating artificial intelligence (AI), paving the way for the European Union's (EU) Artificial Intelligence Act. This marks a crucial step towards establishing a comprehensive AI law in Western countries and positions the EU as a global leader in AI regulation. The AI Act encompasses bans on specific AI applications, including untargeted scraping of images for facial recognition databases, and introduces rules for systems categorized as high-risk. The legislation also imposes transparency requirements on general-purpose AI systems and their underlying models. Penalties for non-compliance could potentially reach up to 7% of a company's global revenue, depending on the violation and the company's size.