The First Ever ‘AI Act’ By EU to Unfurl A New Chapter in The History of AI Development and Use

The Historic Announcement 

A ‘historic moment’, it was indeed when EU officials took the first step towards the regulation of artificial intelligence by means of the first ever AI law. The regulations that have been proposed have in a collective way come to be known as the AI law. It is going to go through the voting procedure in the European Parliament in the beginning of 2024. It is going to be at least 2025 for it to become effective.

For The Goodness of Mankind

It is expected that this law is going to have great impacts over the development of technology and it is going to ensure sound creation of technology that never compromise with the safety as well as the rights of mankind. Clear and concrete rules have been specified revolving around the various ways in which AI is to be used. The AI Act has been referred to as something ‘more than a rule book’. It is going to act as a ‘launch pad’ for the EU researchers who would be leading the ‘AI race’ on a global basis. 

The Risk Factors

As per the Act, the AI systems which are associated with almost ‘negligible risks’ can continue with their functioning and the need for any kind of regulations would not be there. ‘AI systems’ associated with ‘manageable risks’ would be subject to light-weighted regulations and the motive is to ensure that users are able to make decisions based on appropriate information. AI systems that are associated with high risks would be subject to stringent obligations in order to become eligible for use in the EU market. There are yet another set of AI systems which are associated with the so-called ‘unacceptable risks’. As per the Act, such systems will be completely banned from any further use and some examples of such systems include recognition of emotion in public places like schools as well as workplaces, cognitive manipulation and so on. 

The Penalties 

There are penalties for practices that have been prohibited and they soar up to EUR 35 million or 7% of the annual global revenue of the company and for violating or going against the obligations of the law, the penalty would go up to EUR 15 million or 3% of turnover. In case of providing inappropriate information, penalties may go up to EUR 7.5 million or 1.5%. 

Some Concerns

There have been several concerns that have been raised revolving around the AI Act as many Software Companies of Europe feel and fear that Europe might be left behind with such stringent measures being taken and restrictions being laid down on the functioning of AI. Arguments have come up which point towards the fact that it should be the ‘uses of AI’ upon which the restrictions should be laid down instead of the technology. However, the EU members are quite confident about their decision and feel that they have taken the right move that strikes the right balance between ensuring innovation and delivering a technology that lives up to the mark of being ‘responsible’.    

The AI Act was designed in order to ensure that AI continues to progress and bring about innovations and that the investments in AI never cease within the borders of Europe. 

It is a matter of time before the world witnesses other significant measures taken by other nations around the globe to further innovate the concept of responsible usage of technology without compromising on its advancement.

Some Concluding Remarks

There is still more to go and the future waits to watch as Europe enters into this new phase which promises to ensure safety of humans and their rights and at the same time aims to not to stagger behind so long as innovation and advancement in the technology of artificial intelligence is concerned.