The European Parliament has passed the EU Artificial Intelligence Law, a broad legislative framework for the governance and oversight of artificial intelligence technologies in the European Union.
EU AI act: first regulation on artificial intelligence
The use of artificial intelligence in the EU will be regulated by the AI Act, the world’s first comprehensive AI law. Find out how it will protect you ⬇️ pic.twitter.com/GzVfIne7tH
— Europarl UK (@EPinUK) June 14, 2023
The measure was approved by Parliament in a vote held on June 14 in which it obtained majority support of 499 votes in favour, 28 against and 93 abstentions. The next step before the bill becomes law will consist of individual negotiations with members of the European Parliament to smooth out the details. Initially proposed by the European Commission on April 21, the EU Artificial Intelligence Law is a comprehensive set of rules for AI development in the EU.
According to a Press release of the European Parliament
“The standards are intended to encourage the adoption of trustworthy, human-centric AI and protect health, safety, fundamental rights and democracy from its harmful effects.”
Once implemented, the law would ban certain types of artificial intelligence products and services, while limiting or imposing restrictions on others. Among the technologies directly prohibited are biometric surveillance, social scoring systems, predictive policing, so-called “emotion recognition” and non-selective facial recognition systems. Generative AI models, such as OpenAI’s ChatGPT and Google’s Bard, could work as long as their results were clearly labeled as AI-generated.
Once the law becomes law, any AI system that could “cause significant harm to people’s health, safety, fundamental rights or the environment” or “influence voters and the outcome of elections” will be classified as high risk and will be subject to increased governance.
The approval by Parliament of the EU Artificial Intelligence Law comes just two weeks after the May 31 the Markets in Crypto Assets (MiCA) bill was signed into law of the supranational entity. In both cases, industry leaders were among those who led the fight for regulation.
OpenAI CEO Sam Altman has been one of the strongest advocates of government oversight of the AI industry. He recently testified before the US Congress at a hearing in which he made explicit his belief that regulation is necessary. However, Altman also recently warned European regulators against over-regulating.
On the cryptocurrency front, Ripple’s managing director for Europe and the UK Sendi Young recently told Cointelegraph that she believes the MiCA law will help provide a “level playing field” for companies operating in the cryptocurrency sector. cryptocurrencies in Europe.
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