New AI Regulatory Framework Gets Green Light at EU
Last Friday, representatives of the EU member states met and voted in favor of a new proposal in Brussels related to AI. If it becomes law, it would see stricter regulations for AI in the 27-member state bloc.
German Justice Minister Marco Buschmann stated that “Today is a good day for innovation and fundamental rights in Europe,“, as hopes are that this new regulatory framework will help address risk while promoting innovation.
Negotiations from the European parliament and member-states said that reached the initial agreement back in December. This came after a marathon of negotiations, which won a unanimous vote of approval by the states.
Though steps have been taken and it seems that the EU is on track to pass its first AI-related regulatory framework, there’s still more to do. The fact is, The European Parliament still needs to give its seal of approval before traction happens.
For those who may not know. The law is based on a proposal that was made by the European Commission back in 2021. In it, they categorized AI systems into different risk groups. So the higher the potential risks of an application, the greater the requirements on developers.
But there are still a few issues. One of which is that the law is unclear and leaves too much to the imagination. This is a central point of concern for The Computer & Communications Industry Association or CCIA Europe.
They believe that as the law stands, it could hamper AI development and reduce the European market’s competitive advantage. This concern has to do with a lack of clear direction from the EU governing body.
Which in theory could leave individual companies and industries having to deal with different expectations with the same laws depending on the agency they’re dealing with. On the other hand, the German Economy Minster, Robert Habeck, sees it another way.
He said in short, “When implementing the rules, we will focus on innovation-friendliness, legal clarity for companies and lean, low-bureaucracy structures — for a strong AI location in Europe.”. Either way, the EU is hoping to catch up with China and the United States in providing a fair and legal environment for AI regulation.
Originally posted on OpenDataScience.com
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