In a ground-breaking move, on 8 December 2023, the European Parliament officially reached a provisional agreement with the Council on the AI act. With this agreement, the European Union has implemented the world’s first comprehensive regulation on artificial intelligence, known as the AI Act. This landmark regulation is now in it’s final stage of implementation, as it still needs to be formally adopted by the Parliament and the Council. The AI Act aims to safeguard the well-being and fundamental rights of EU citizens, setting a precedent for global AI governance.
In April 2021, the European Commission proposed the first European Union (“EU“) regulatory framework for artificial intelligence (“AI“). The main objective is to classify different AI systems according to the risk they pose to users. The various risk levels will mean more or less regulation. Once formally adopted, this will be the world’s first set of rules for AI. Below, we provide a brief overview of the adoption process, content, and potential issues related to the Artificial Intelligence Act (the “AI Act“).
