EU Strikes Historic Agreement on AI Regulation

Comprehensive AI Rules Established by European Parliament and Council
EU Strikes Historic Agreement on AI Regulation
Author:
Updated on

The European Parliament and Council have reached a provisional agreement on the governance of artificial intelligence (AI), marking a significant step in AI regulation. On December 8, the negotiators agreed on a set of rules covering the governmental use of AI in areas such as biometric surveillance and the regulation of AI systems like ChatGPT. The agreement focuses on transparency rules that must be followed before AI products can enter the market, including providing technical documents, adhering to EU copyright laws, and sharing summaries of training content.

The EU aims to be the first supranational authority with specific laws on AI, intending to use AI beneficially while mitigating associated risks. The agreement requires AI models with significant impact and systemic risks to evaluate and address these risks. This includes performing adversarial testing for system resilience, reporting incidents to the European Commission, ensuring cybersecurity, and disclosing energy efficiency.

Additionally, the deal sets boundaries on the use of AI. It restricts real-time biometric surveillance by governments to specific cases, such as serious crimes or severe threats in public spaces, and forbids practices like cognitive behavioral manipulation and social scoring. The agreement also gives consumers the right to file complaints and seek explanations for AI-driven decisions.

In terms of enforcement, the agreement stipulates fines ranging from 7.5 million euros ($8.1 million) or 1.5% of turnover to 35 million euros ($37.7 million) or 7% of global turnover, depending on the infringement and company size. The agreed text will need formal adoption by the European Parliament and Council to become EU law, with a vote on the agreement scheduled in the parliament’s internal market and civil liberties committees​​​​​​​​​​​​​​.

Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.

logo
Crypto Insider News Inc
cryptoinsider.news