On Friday, lawmakers and member states within the European Union have reached an initial agreement on what they are lauding as the world’s first extensive AI legislation.
This historic deal is designed to oversee artificial intelligence (AI) technologies, such as ChatGPT, and the application of AI by governments in biometric surveillance.
The new pact, commended by the European Parliament for establishing a global precedent, is poised to be implemented by the EU as a significant achievement.
Thierry Breton, the EU Commissioner, shared his enthusiasm on social media, highlighting the EU’s pioneering role in setting clear guidelines for AI usage. The AI Act is anticipated to propel European businesses and researchers to the forefront of the worldwide AI arena, going beyond mere instructions.
Referred to as the “second global AI Act” with a focus on protecting the fundamental rights of individuals and businesses, the announcement was made by Ursula von der Leyen, the president of the European Commission.
The terms of the agreement, influenced by the EU’s groundbreaking work on AI legislation in 2021, have established global benchmarks.
After around 15 hours of discussions, following an intense 24-hour debate the day before, the latest consensus was achieved.
A significant point of contention revolved around the utilization of AI for facial recognition security, leading to extensive negotiations.
The agreement incorporates provisions for protections, transparency, and hefty penalties for breaches, including fines of up to €35 million ($38 million) or 7% of a company’s global revenue.
Brussels anticipates that the final legislation, to be refined in the coming days, will be in effect by 2025.
While Europe is progressing with its AI regulations, entities like OpenAI are actively working on developing large language models and various projects. Alphabet, Google’s parent company, recently introduced a new AI model named Gemini.
Governments across the globe are striving to find a balance between harnessing the advantages of AI technologies and implementing necessary oversight measures.
In light of China’s AI regulations in August and US President Joe Biden’s executive order on AI safety standards in October, EU negotiators are cautious that excessively rigid regulations could hinder the competitiveness of Western firms like Germany’s Aleph Alpha or the French company Mistral AI on the global platform.
