The new EU’s AI Act: Regulating framework proposal on artificial intelligence in Europe

Proposed EU rules could limit the type of research that produces cutting-edge AI tools like GPT-3. It is supported by a policy briefing that provides specific recommendations for EU policymakers for changes to be implemented into the final version of the AI Act. some EU policymakers believe it is a critical goal of the act to set a worldwide standard, so much so that some refer to a race to regulate AI. The new European rules will forever change the way AI is formed.

The proposal seeks to reduce administrative and financial burdens for businesses, in particular small and medium-sized enterprises. It imposes requirements for market entrance and certification of High-Risk AI Systems through a mandatory CE-marking procedure. Open source developers would be required to abide by rules for risk management, data governance, technical documentation, and openness, as well as benchmarks for accuracy and cybersecurity, under the EU’s proposed AI Act. The AI Act draft combines a risk-based approach based on the criticality pyramid with a modern, layered enforcement mechanism.

The EU’s AI Act:

The EU aims to prevent the rules from stifling innovation and hindering the creation of a flourishing AI ecosystem in Europe, by introducing legal sandboxes that afford breathing room to AI developers. This might further concentrate power over the future of AI in giant technological companies and hinder research that is vital to the public’s understanding of AI. The AI Act is itself an excellent starting point for a holistic approach to AI regulation.

AI systems can be general purpose, meaning the same system can be applied to different contexts and raise different impacts for different individuals and groups. High-risk AI systems for human services will be highly influenced if they are built into online or otherwise internationally interconnected platforms. The EU’s AI Act will create a process for government oversight of many categories of high-risk AI systems that interact with people, and attempt to ban a few unacceptable qualities of AI systems.

The EU’s AI Act will facilitate the development of a single market for lawful, safe, and trustworthy AI applications and prevent market fragmentation. And ensure that AI systems placed on the Union market and users are safe and respect existing law on fundamental rights and Union values, ensure legal certainty to facilitate investment and innovation in AI. It will probably take years before AI regulation in the EU begins to take shape, given the numerous moving pieces and the numerous stakeholders it affects.