EU Agrees on World-Leading Artificial Intelligence Act

The comprehensive AI legislation, set to take effect in 2024, aims to protect fundamental rights while encouraging innovation, imposing stringent rules on high-risk AI systems and banning certain AI uses deemed unacceptable.

The European Union has agreed on the Artificial Intelligence Act, the world's first comprehensive set of laws regulating the use of AI. The legislation is designed to protect democracy, the rule of law, and fundamental rights, while still encouraging investment and innovation.
The AI Act takes a 'risk-based approach' to products or services that use artificial intelligence. Those that pose limited risk, such as content recommendation systems or spam filters, would have to follow only light rules such as revealing that they are powered by AI.
High-risk systems, such as medical devices, face tougher requirements like using high-quality data and providing clear information to users. Some AI uses are banned because they're deemed to pose an unacceptable risk, like social scoring systems that govern how people behave, some types of predictive policing, and emotion recognition systems in school and workplaces.
People in public can't have their faces scanned by police using AI-powered remote 'biometric identification' systems, except for serious crimes like kidnapping or terrorism. Violations could draw fines of up to 35 million euros ($38 million) or 7% of a company’s global revenue.
The AI Act will apply to the EU's nearly 450 million residents, but experts say its impact could be felt far beyond because of Brussels' leading role in drawing up rules that act as a global standard. The AI Act is expected to take effect two years after final approval from European lawmakers, expected in a rubber-stamp vote in early 2024.

The Hollywood Reporter