World’s first AI law: EU reaches ‘historic’ deal on regulating Artificial Intelligence

World’s first AI law: EU reaches ‘historic’ deal on regulating Artificial Intelligence

On December 9, after three days of extensive negotiations, the Council and the European Parliament negotiators reached a provisional agreement on the EU AI Act. This legislation marks the first-ever dedicated law on artificial intelligence, establishing a world leading regulatory framework to ensure the safety, legality, trustworthiness, and respect for fundamental rights within AI systems.
The European Union has taken a groundbreaking step by becoming the first global legislator to introduce comprehensive AI legislation, echoing the impactful role played by the General Data Protection Regulation (GDPR) in shaping global data privacy standards. This pioneering move is driven by the ambition to set worldwide benchmarks for the regulation of artificial intelligence, emphasizing the European approach to overseeing technology on the international stage. The primary objective is to lay the foundation for a global AI landscape characterized by ethical practices, safety, and trustworthiness.
Ursula von der Leyen, President of the European Commission, enthusiastically welcomed this historic agreement, emphasizing the profound impact of artificial intelligence on daily lives and highlighting that this is just the beginning of its transformative influence. From her words, the newly established AI Act will be playing a significant role in shaping global rules and principles for human-centric AI. She highlighted that this piece of legislation effectively translates European values into a new era. By focusing regulatory efforts on identifiable risks, the recent agreement is set to foster responsible innovation within Europe. This approach, centred on ensuring the safety and fundamental rights of individuals and businesses, is expected to streamline the development, deployment, and acceptance of reliable AI technologies within the EU.
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