ASHENEWS reports that the European Union is set to get legislation on the use of Artificial Intelligence (AI).
This development follows three days of talks between Europe’s parliament’s negotiators and members of the Council presidency.
This regulation aims to ensure that fundamental rights, democracy, the rule of law, and environmental sustainability are protected from high-risk AI while boosting innovation and making Europe a leader in the field.
The rules establish obligations for AI based on its potential risks and level of impact.
Using a risk-based approach also sets penalties for offenders.
Non-compliance with the rules can lead to fines ranging from 35 million euros or 7% of global turnover to 7.5 million or 1.5 % of turnover, depending on the infringement and size of the company.
According to DIGITALEUROPE, the leading trade association representing digitally transforming industries in Europe, the AI Act, if done right, can be a positive force for AI uptake and innovation in Europe.
However, it expressed concerns that the requirements as stated by the legislation will take a lot of resources for companies to comply with.
“The AI race is not one Europe can miss out on. We need to think long and hard about how we can compensate for this extra burden and give companies here a fighting chance, DIGITALEUROPE’s Director General Cecilia Bonefeld-Dahl said.
The association is demanding that EU institutions work closely with industry to ensure that companies, particularly smaller ones, have the support they need to comply with the new requirements.
The law which seeks to ban the use of AI in the areas where it poses a potential threat to citizens’ rights and democracy made exceptions to its use in certain areas of law enforcement.
With the development of the draft, the agreed text will now have to be formally adopted by both Parliament and Council to become EU law.
Parliament’s Internal Market and Civil Liberties committees will also vote on the agreement in a forthcoming meeting.
