EU lawmakers agreed on a landmark package of artificial intelligence (AI) laws in a major step toward regulating the rapidly developing technology on Friday. The new rules, known as the AI Act, aim to ensure that AI is used safely and ethically and that it does not pose a threat to fundamental rights.The move has come amid growing concerns over the disruptive capabilities of artificial intelligence, according to reports. The AI Act is the first comprehensive set of AI regulations in the world and could set a global standard for AI governance. The law covers a wide range of AI applications, including facial recognition, biometric surveillance, and AI-powered chatbots.While speaking at a news conference at European Union, Thierry Breton, the EU Commissioner for Internal Market, stressed that AI Act is much more than a rulebook.Taking to X, Breton stated, Historic! The EU becomes the very first continent to set clear rules for the use of AI The #AIAct is much more than a rulebook -- its a launchpad for EU startups and researchers to lead the global AI race. The best is yet to come!Historic!The EU becomes the very first continent to set clear rules for the use of AI 🇪🇺The #AIAct is much more than a rulebook — its a launchpad for EU startups and researchers to lead the global AI race.The best is yet to come! 👍 pic.twitter.com/W9rths31MU— Thierry Breton (@ThierryBreton) December 8, 2023The AI Act is divided into three main categories:High-risk AI: This category includes AI systems that could pose a significant risk to fundamental rights, such as facial recognition and AI-powered credit scoring systems. High-risk AI systems will be subject to strict requirements, including mandatory human oversight and risk assessments.Limited-risk AI: This category includes AI systems that pose a lower risk to fundamental rights, such as AI-powered chatbots and recommender systems. Limited-risk AI systems will be subject to less strict requirements than high-risk AI systems.Minimal-risk AI: This category includes AI systems that pose a minimal risk to fundamental rights, such as AI-powered spam filters and basic image recognition algorithms. Minimal-risk AI systems will not be subject to any specific regulations under the AI Act.The AI Act is expected to be formally adopted by the European Parliament and Council of the European Union in early 2024. It will then take effect two years later, in 2026.It is to be noted here that the EUs AI Act is a significant step forward in the global effort to regulate AI. The law is likely to have a major impact on the development and deployment of AI around the world.
