The European Union has reached a political agreement on the AI Act, a comprehensive set of regulations for AI development and application. The Act, expected to pass in the European Parliament and take effect in 2025, focuses on near-term risks, such as the use of AI by law enforcement and critical infrastructure agencies. It also imposes transparency requirements on companies developing foundation models and mandates warning labels for AI systems used to generate or manipulate media. However, it largely avoids addressing open-source AI.
Key takeaways:
- Veteran venture capitalist Vinod Khosla shared his views on AI at Fortune's AI conference, discussing its risks, potential for misuse in elections, its future role in the economy, its impact on work, healthcare, drug discovery, and coding.
- OpenAI, a company Khosla invested in, faced internal drama with the firing and reinstatement of CEO Sam Altman, amid allegations of toxic behavior and disagreements over the company's direction.
- The European Union has reached a political agreement on the AI Act, a comprehensive set of regulations for the development and application of AI, expected to pass and take effect in 2025.
- The AI Act focuses on near-term risks, regulating AI use by law enforcement and critical infrastructure agencies, imposing transparency requirements on AI developers, and requiring warning labels on AI systems used to generate or manipulate media.