The law regulating artificial intelligence (AI) in the European Union Artificial Intelligence Act (AIA) has far-reaching effects, both within Europe and globally. We would like to summarize the most important information and effects here:
AI regulation: The law sets a framework for the use of AI in the EU and creates clear guidelines for the development, use and monitoring of AI systems. It sets standards for transparency, traceability and non-discrimination and calls for human monitoring of AI applications.
Protection from risks: By introducing strict requirements for particularly risky AI applications and banning certain practices such as social scoring and emotion recognition in the workplace, the law aims to minimize potential harm from AI and protect the rights of citizens.
International impact: Since the law also applies to companies outside the EU that use or offer their AI systems in the EU, it could lead to global technology companies adapting their practices to comply with EU regulations. This could indirectly help encourage similar regulations in other parts of the world.
Innovation and competitiveness: The law could also have an impact on the EU’s innovation and competitiveness in the field of AI. While some will argue that excessive regulation inhibits innovation, clearly defined rules and standards could also increase trust in AI technologies and promote the development of safer and more reliable systems.
Advantages:
- Protection of citizens: The law aims to protect citizens from the potential risks and abuses of AI, particularly in relation to their fundamental rights and personal freedoms.
- Promote trust: The clear rules and regulations can increase consumer trust in AI systems and promote the acceptance and use of these technologies.
- Encouraging innovation: By establishing clear standards and regulations, AI developers and providers can invest more confidently in the development of new technologies.
Disadvantages:
- Overregulation: Some critics argue that the law may be too restrictive and could inhibit innovation in the AI industry, particularly for smaller companies.
- Complexity: Complying with the Act’s regulations and standards could be challenging for companies, especially those that do not have the resources to undertake complex compliance processes.
Overall, the new law regulating artificial intelligence in the EU represents a significant step towards addressing the opportunities and risks of AI use in Europe and beyond and creating a framework for the responsible development and use of AI