However, the Act has received mixed reactions, with some companies fearing it could limit innovation, while others welcome the rules. The EU plans to establish an AI Office, an independent body within the European Commission, to ensure the harmonious implementation of these rules. The Act is seen as a significant step in AI governance, with its impact likely to be felt beyond Europe.
Key takeaways:
- The European Union has approved the world's first comprehensive AI regulations, known as the AI Act, which could set a precedent for similar rules in other parts of the world.
- The AI Act requires companies to disclose if content was generated by AI and to provide a detailed summary of the data used to train an AI model, in line with EU copyright laws and transparency obligations.
- Under the AI Act, the government will determine the level of risks based on the AI model in question, with stricter rules for higher risk AI. Certain high-risk models will need to be registered in an EU database.
- While some AI companies are concerned that the new rules could limit innovation, others have welcomed them. The EU plans to set up an AI Office, an independent body within the European Commission, to help implement the rules.