The EU AI Act is approved by parliament.
The European Parliament has approved the EU AI Act, which is a comprehensive legislative framework for the governance and oversight of artificial intelligence technologies in the European Union. The act is the world’s first comprehensive law on AI and will regulate the use of artificial intelligence in the EU. The act aims to promote the use of human-centric and trustworthy AI while protecting the health, safety, fundamental rights, and democracy from its harmful effects.
The EU AI Act is the 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 ⬇️ https://t.co/CQqAi7S8lR pic.twitter.com/GzVfIne7tH
— Europarl UK (@EPinUK) June 14, 2023
The act was passed in Parliament on June 14, with 499 votes in favor, 28 against, and 93 abstentions. The next step before the bill becomes law is to negotiate with individual members of the European Parliament to clear out the details. Initially proposed by the European Commission on April 21, the EU AI Act is a comprehensive set of rules for AI development in the EU.
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The rules aim to prohibit certain types of artificial intelligence services and products while limiting or placing restrictions on others. Biometric surveillance, social scoring systems, predictive policing, so-called “emotion recognition,” and untargeted facial recognition systems are technologies that will be banned. Generative AI models such as OpenAI’s ChatGPT and Google’s Bard are allowed to operate under the condition that their outputs are clearly labeled as AI-generated.
Once the act becomes law, any AI system that could “pose 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 subject to further governance.
The EU AI Act’s passing comes just two weeks after the Markets in Crypto-Assets (MiCA) bill became law on May 31. In both cases, industry leaders were among those leading the charge for regulation.
OpenAI CEO Sam Altman has been among the most vocal supporters of government oversight of the AI industry. He recently testified before Congress and made explicit his belief that regulation is necessary. However, Altman also recently warned European regulators against overregulation.
On the cryptocurrency front, Ripple’s managing director for Europe and the United Kingdom, Sendi Young, recently told Cointelegraph that she believes MiCA will help facilitate a “level playing field” for companies operating in the crypto sector in Europe.
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