The European Union (EU) has taken a pioneering step with its landmark law on artificial intelligence (AI), establishing itself as a frontrunner in AI regulation and leapfrogging the United States. This ambitious legislation, aimed at reshaping AI use in healthcare and policing, seeks to safeguard rights and maintain ethical standards.
Central to the EU’s regulatory framework are the outright bans on what it deems “unacceptable” uses of AI. This includes the prohibition of social scoring systems, the use of AI to deduce sensitive attributes such as race, political inclinations, or sexual orientation, and the deployment of AI for emotion interpretation in schools and workplaces. Additionally, the legislation stops certain automated profiling techniques to predict future criminal behaviour.
Equally significant is the designation of a “high-risk” category for AI applications, particularly those involved in education, employment, and government services. This category subjects AI to enhanced scrutiny, including transparency and accountability requirements.
The implications for AI companies under this new EU regulation are profound. Entities like OpenAI will now face stringent disclosure mandates, including the mandatory labelling of AI-generated content. Furthermore, deepfake technology’s potential for misinformation and manipulation necessitates its regulation, thus leading to its banning in certain contexts. This marks a pivotal shift towards greater transparency and responsibility in the AI sector.
Scheduled to take effect approximately two years from its approval date, the EU’s AI legislation highlights the bloc’s rapid and decisive response to the challenges and opportunities presented by AI advancements. Furthermore, stemming from a proposal introduced in 2021 and catalysed by the popularity of tools like OpenAI’s ChatGPT, this legislative initiative highlights the EU’s commitment to shaping a future where AI serves the public good within clearly defined ethical and legal boundaries.
While the EU charts a course towards comprehensive AI regulation, the United States lags in making comparable legislative strides. Despite efforts by figures such as Senate Majority Leader Chuck Schumer to prioritise AI legislation and Elon Musk suing OpenAI, the US has yet to achieve significant progress in this arena. This contrast underscores governments’ varying paces and priorities in addressing the complex landscape of AI technology and its societal impacts.
Key Points: AUD/JPY broke below a rising wedge, signalling possible bearish momentum, with immediate resistance at 103.00 and support at…
Key Points EUR/JPY Rises to 168.25: Strengthened by robust Eurozone economy and steady ECB policy. Eurozone GDP Grew by 0.3%…
Key Points: Nio's shares hit 44.20 HKD, up 20%, with electric vehicle deliveries up 134.6% year-on-year to 15,620. BYD leads…
Key Points: Ethereum fell sharply from $3,355 to a low of $2,813, reflecting high volatility and sensitivity to market dynamics.…
Key Points Nikkei 225 slightly fell by 0.1%, while the Hang Seng index surged by 2.4%. USD/JPY increased slightly, highlighting…
Key Points: Gold prices rose on MCX India to ₹71,278/10 gm and COMEX US to $2,328/oz. The US Dollar Index…
This website uses cookies.