The European Parliament just approved the Artificial Intelligence Act that ensures safety and compliance with fundamental rights, while boosting innovation.
The regulation agreed in negotiations with member states in December 2023, was endorsed by MEPs with 523 votes in favour, 46 against, and 49 abstentions.
It aims to protect fundamental rights, democracy, the rule of law and environmental sustainability from high-risk AI while boosting innovation and establishing Europe as a leader in the field. The regulation establishes obligations for AI based on its potential risks and level of impact. The act heads down a lengthy and complex implementation path. An AI Office that will guide the process under the Commission wing, will be set up.
The Act sets out a tiered approach to regulation based on how risky applications of the technology are deemed and sets different deadlines for implementing the various requirements.
Some uses of AI, such as algorithm-based social scoring, will be prohibited by the end of 2024. Other uses, such as critical infrastructure, are deemed high-risk and will face stricter rules. Under the current timeline, full implementation will come in 2026.
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