EU Parliament has officially adopted the AI Act, a comprehensive piece of legislation aimed at governing the use of AI within its member states. Approved with an overwhelming majority of 523 votes to 46, is anticipated to become law as early as May 2024.
The AI Act, which emerged after nearly five years of deliberation and refinement, introduces a nuanced, risk-based framework for AI, categorizing systems according to the level of threat they pose to public safety and rights. From minimal risk applications, like AI in video games or spam filters, to unacceptable risks, such as AI that could infringe on individual freedoms or safety, the legislation outlines specific requirements and prohibitions aimed at safeguarding EU citizens.
Key elements of the AI Act include stringent restrictions on high-risk AI systems and a mandate for transparency in AI interactions with humans. The legislation also encompasses AI in regulated products, ensuring that AI technologies are used responsibly across various sectors. One of the act’s most notable features is its prohibition of certain uses of AI, including the creation of social scoring systems by governments and the use of AI in ways that could encourage harmful behavior in children through toys equipped with voice assistants.
The implications of this regulation extend far beyond the borders of the European Union, setting a de facto global standard for ethical and responsible AI. U.S. companies, in particular, are advised to brace for the impact of this act, as its extraterritorial effect and hefty fines for non-compliance demand immediate attention to align with its mandates. This shift necessitates a collaborative effort among various organizational teams, from IT and data science to legal and risk management, ensuring a smooth transition into compliance.
Tech giants have not remained silent on this development. IBM and Salesforce, for instance, have expressed their support for the AI Act, recognizing its potential to contribute to the creation of open and trustworthy AI ecosystems.
